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Non-food drives Tesco growth

04.12.07 Graeme Neill

Tesco has reported third quarter group sales growth of 11.8%, up from 9.2% for the first half of the trading year. The supermarket chain said that non-food's performance over the 13 weeks to 24th November was part of its success, along with rapidly expanding international growth and progress in the UK business.

Total sales for the UK business grew by 7.6% over the period, while like-for-like sales increased by 4.8% including petrol and by 4.1% excluding petrol.

"We've maintained pleasing progress during the third quarter across the group," said Tesco chief executive Terry Leahy. "Overall sales growth has strengthened in the period, with International delivering a particularly strong performance, and the UK has again done well, with good growth in our core food categories."

International sales were up 25.7% at actual exchange rates and by 21.4% by constant rates. Tesco highlighted a "particularly strong" performance in Asia, where sales grew by 29% at constant rates.

Retail tesco Graeme Neill Supermarkets

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