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UK:Supermarket leader Tesco’s H1 profit as per expectation |
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2004-10-12
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Britain’s leading supermarket chain Tesco reported H1 profits and sales as per expectations.
Pre-tax profit for the first six months of the year stood at £822m, up 24.4% from last year and well above analysts'' forecast range of £761m to £799m.
High consumer confidence in the UK resulted in the higher profits according to Terry Leahy, Tesco''s chief executive. He however cautioned that further interest rate rises could alter the final figures.
"We''ve all benefited from a confident consumer and stable consumer activity, but clearly if there are further interest rate rises it could run the risk of undermining consumer confidence," he said. |
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