Tesco reports soaring profits
The firm said that UK and Ireland sales rose 9 per cent to £24.3bn in the six months to August 29, with overall revenue hitting £28.7bn.
Tesco plans to hand out some of the cash it has earned to shareholders, increasing its interim dividend by 21 per cent to 3.2p per share, despite reporting £533m in Covid-19 costs.
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Hide AdTesco said that it would also return £5bn to shareholders as part of a special dividend after selling its Asian business in March for £8bn.
The firm has also appointed a new chief financial officer, Imran Nawaz, who has joined from Tate & Lyle.
In his first outing as chief executive, new boss Ken Murphy said: “The first half of this year has tested our business in ways we had never imagined and our colleagues have risen brilliantly to every challenge, acting in the best interests of our customers and local communities throughout.
“I would like to thank all our colleagues for their amazing contribution and I am delighted and proud to be part of such an incredible team.”
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