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Article: Tesco says UK sales are now ahead of rivals
- Article from:
- The Independent (London, England)
- Article date:
- October 7, 2009
- Author:
CopyrightCopyright 2009 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Grocer posts 8.6 per cent uplift in underlying profits to just
under Pounds 1.6bn
Tesco's chief executive Sir Terry Leahy said its UK sales had
turned a corner and moved ahead of its big rivals, as he trumpeted
that the domestic economy had "passed its low point and things were
getting better".
His comments came as Tesco, which operates in 13 markets outside
the UK, reported an 8.6 per cent rise in underlying pre-tax profits
to 1.57bn for the 26 weeks to 29 August, which was ahead of City
expectations.
The UK's biggest supermarket's underlying sales have fallen
behind those of Asda, Sainsbury's and Morrisons for the past year,
supported by recent industry data from TNS Worldpanel.
But ...