Tesco chief executive Sir Terry Leahy: "It's the customer that wins"
Tesco chief executive Sir Terry Leahy has said that the supermarket chain is "well-placed for the global recovery" after reporting "solid" results.
Britain's biggest retailer's pre-tax profits for the six months to the end of August came in at £1.42bn, which was up 1.5% on the same period last year.
Group sales rose 8.3% to £30.4bn while like-for-like sales in the UK, which exclude new stores, grew 2.7%.
Tesco also announced it had created 6,500 jobs in the six-month period.
Tesco's statement said its strategy had "delivered pleasing growth in challenging times".
'Slow and steady'
It said that its Discount Brands, which were launched a year ago, and extra investment in its Clubcard scheme were working, and that it was "starting to see significant improvement in our relative performance versus our main competitors".
It added that the strongest response to the Clubcard investment had been more regular visits from customers who had previously been occasional shoppers at Tesco.
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