Tesco celebrates 30 percent rise in operating profits

17 April 2017 - Janet Bird

tesco store

Tesco is celebrating its first year of sales growth since 2010.

The Big Four supermarket has announced operating profits of £1.28 billion for the 12 months to the end of February 2017, a thirty percent increase.

In the UK, Tesco saw a massive 60 percent rise in profits to £803 million. Like for like sales were up by 0.9 percent, the first increase in seven years, and total sales were up by 4.3 percent at £49.9 million.

The positive results will help ease fears over Tesco's impending £3.7 billion merger with supplier Booker, which many investors worried would distract from the supermarket giant's steady recovery from a costly accounting scandal in 2014.

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