Tesco records ?3bn in profits

Britain's biggest retailer posts ten per cent jump over past year
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The UK’s leading retailer Tesco has reported record pre-tax profits of £3.13bn for the year ending February 28th 2009 – a ten per cent increase over the same period a year before.

On average the supermarket saw sales in excess of £1bn every single week, with total sales for the year hitting £59.4bn.

If there is any negativity to take from the huge numbers it’s that rival retailers are currently growing faster. Tesco’s like-for-like sales were up three per cent on last year, compared to Morrisons’ 7.9 per cent, the BBC reports.

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