TescoChief Executive Officer has requested Government To avoid implementing further burden on the grocery area before autumn BudgetThe profits may exceed £ 3 billion this year despite the supermarket forecast.
UKThe biggest supermarket highlighted that domestic budget is under pressure, making consumers look fast.
Tesco Said that high rate of employer national insurance has added about £ 235 million to its annual cost, while the new packaging taxes contributed about 90 million pounds.
Despite these pressures, the retailer on Thursday confirmed that its annual profit is now expected to be higher than the previous estimates.
Ken Murphy, TescoChief Executive Officer expressed his hope that upcoming Budget Financial stress on groups will have to struggle with an increase in business expenses in advance.
“What we would like to see is one Budget Mr. Murphy said, “This is a supporter-development and pro-job that will help customers with the cost of living,” Mr. Murphy said.
“We know that people are worried about what is next and we are seeing it in consumer spirit.
“As a food retailer, we work in a very competitive and very difficult environment, and I think a asking is not difficult for the industry to give great value to customers.
“Finally BudgetThe industry met adequate additional operating costs.
“We are trying our best to deal with them but enough.”
It is now expected to have underlying income for the whole year between £ 2.9 billion and £ 3.1 billion, which is from the previous guidance range between £ 2.7 billion and £ 3 billion.
This increased by 1.6 percent to 1.67 billion pounds for the first half of 2025 after its adjusted operational benefit, while with the same period last year, on the back of Britain Sales 4.9 percent jump.
Mr. Murphy said that shopkeepers were well responding to their efforts to reduce prices on hundreds of products, increasing the amount of items planted in people’s baskets.
This was especially a case for fresh food, which is largely a brand of itself, and he said that more consumers at home indicated “scratch cooking”.
In Britain, Tesco The prices of some 6,500 products have been reduced by the average 9 percent average decrease compared to last year.
An extended duration of hot weather was also brought to more shopkeepers in summer to buy barbecue and picnic food and sparkling wine in summer.
Sales In Tesco Finest, its premium increased to 16 percent year-long with its own brand line, about 300 new and better products.
Mr. Murphy said that Tesco was “betting on a good Christmas”, there was a possibility of arriving in the festive season with consumers “cheap and manageable”.
The boss said the industry remained “incredibly competitive” among the war between rival supermarkets, and he hoped that it would continue in the second half of the year.