Tesco returns to profit as UK sales grow

Tesco has hailed “significant progress” after reporting a return to profit and its first quarterly sales growth for three years.
The supermarket giant reported a £162m statutory pre-tax profit for the year to 27 February with UK like-for-like sales up 0.9% in the fourth quarter.
The results follow last year’s £6.3bn loss, the worst results in its history.
Tesco chief executive Dave Lewis said the group had “regained competitiveness in the UK”.
Reports have suggested that the supermarket group is now planning to sell off some of its other side businesses, including the Dobbies Garden Centres chain, coffee shop chain Harris & Hoole and restaurant chain Giraffe, so that it can focus on the main supermarket business.