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| Tesco says growth continues as sales rise again | Tesco says growth continues as sales rise again |
| (35 minutes later) | |
| Tesco, the UK's biggest supermarket chain, has reported an 11th consecutive quarter of rising sales. | Tesco, the UK's biggest supermarket chain, has reported an 11th consecutive quarter of rising sales. |
| Across the Tesco group like-for-like sales, which strip out the impact of new stores, were up 4.2% in the second quarter. | Across the Tesco group like-for-like sales, which strip out the impact of new stores, were up 4.2% in the second quarter. |
| Tesco chief executive Dave Lewis said this was the best sales growth in more than a decade. | |
| Sales at Booker, the food wholesaler that Tesco bought at the end of last year, jumped 15.1%. | Sales at Booker, the food wholesaler that Tesco bought at the end of last year, jumped 15.1%. |
| However, Tesco shares dropped more than 5.5% in early trading. | However, Tesco shares dropped more than 5.5% in early trading. |
| Bernstein retail analyst Bruno Monteyne said Tesco's first half figures showed a "strong sales momentum in Booker and UK food retail, but was soft on profitability". | |
| The firm had "made a good start to the year", Mr Lewis said, with profits mainly driven by growth in the UK and Ireland. | The firm had "made a good start to the year", Mr Lewis said, with profits mainly driven by growth in the UK and Ireland. |
| Pre-tax profit rose 2.2% higher in the first half to £564m. |