Tesco Reports Strong Sales Growth In 2016/2017

UK retailer Tesco reported group sales rose 4.3 percent to ₤49.9 billion for fiscal year 2016-2017. According to the company, like-for-like sales in the UK grew 0.9 percent, its first reported full-year growth since FY 2009/2010, and 1 percent across the group. Group operating profit before exceptional items jumped 30 percent to ₤1.28 billion. Group operating margin improved from 1.8 percent to 2.3 percent.