Tesco profits surge as virus fuels online food demand

Published
0

Britain's biggest retailer, supermarket giant Tesco has reported a 42 per cent jump in net profit in its first half on soaring online demand for food during the coronavirus outbreak, AFP reported.

Profit after tax jumped to 460 million pounds ($585 million) in the six months to the end of August, compared with 324 million a year earlier, Tesco said in a statement.

Sales were fuelled by Britons increasingly switching from Tesco's largest stores to having their groceries delivered.

This came despite exceptional costs of 533 million in response to the pandemic, notably the creation of 16,000 jobs to meet the growing online demand.

Opinion

Editorial

Farming reform
Updated 06 Oct, 2026

Farming reform

Agriculture needs investment, but not another round of costly interventions.
Improved performance
06 Oct, 2026

Improved performance

THE recently concluded Asian Games in Aichi-Nagoya, Japan, were a revival of sorts for Pakistan, and a huge upgrade...
Mass surveillance
Updated 06 Oct, 2026

Mass surveillance

THE new National Cybercrime Investigation Agency chief, Ali Nasir Rizvi, has adopted a “zero-tolerance policy...
After the talks
Updated 05 Oct, 2026

After the talks

Considering how close they came to a solution, govt and opposition teams should reconvene to give the talks another chance.
Child safety online
Updated 05 Oct, 2026

Child safety online

Pakistani children are spending more of their lives online, but the safeguards around them are not keeping pace.
Rising public debt
05 Oct, 2026

Rising public debt

Pakistan’s public debt has surged by 76pc to Rs86.7tr in four years, according to a new government report.