If such factors are included, group pre-tax profit came in at £2.95bn.
Tesco said in its statement that in the UK it had "coped well with recovering competitors and a difficult non-food market" and had managed to increase both the number of customers coming into its stores and the average amount they were spending.
However, chief executive Terry Leahy conceded in an interview with BBC News that he was losing some market share to other retailers such as Morrisons.
World's third biggest retailer, UK's biggest
Has an outlet in every postcode in the UK
Overtook Sainsbury's as biggest UK supermarket 14 years ago
First achieved £1bn sales in a year 30 years ago
Employs 440,000 people in 4,000 stores across 14 countries
Has 2,115 stores and 280,000 staff in the UK
Tesco said like-for-like sales - which strip out the impact of new store openings - excluding petrol in the UK grew 3% in the year to 28 February.
By comparison, Morrisons reported full year like-for-like sales growth excluding petrol of 7.9%.
Tesco described its start to the current year as "solid" with like-for-like sales excluding petrol in the past six weeks growing by 3.4%.
The number of plastic bags used during the year fell by 50%, while the retailer said that a quarter of its transactions went through its self-service checkouts.
In the UK, Tesco bought out Royal Bank of Scotland's stake in their Tesco Personal Finance (TPF) joint venture for £950m in December last year.
It now, "plans to develop TPF from a successful, popular collection of financial products to a full-service retail bank in the years ahead".
Mr Leahy said Tesco Personal Finance would be an "old-fashioned bank dealing mainly with Tesco customers who we know".
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