Tesco in good H1 shape despite tightening conditions
UK supermarket group Tesco reported H1 sales excluding fuel up 2.0% to GBP33.8 billion, while adjusted operating profit rose 6.5% to GBP1.78 billion. UK LFL sales increased 1.5%, slowing from 1.8% in Q1. Tesco raised the lower end of its full-year profit forecast to GBP3.15 billion, retaining an upper limit of GBP3.3 billion, despite continued consumer uncertainty and inflationary pressures. (Tesco)
