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It's a Tesco turnaround as supermarket returns to profit after record losses

It is a Tesco turnaround as Britain's biggest retailer returns to profit for the first time in three years.

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It's a Tesco turnaround as supermarket returns to profit after record losses

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It is a Tesco turnaround as Britain’s biggest retailer returns to profit for the first time in three years.

Tesco posted a €205m pre-tax profit in the first quarter with sales up 0.9 percent in the fourth.

The results are remarkable considering last year the company lost a record €7.5bn.

The chief executive Dave Lewis, despite his rapture, warned against complacency
saying the market was ‘‘challenging and uncertain’‘ adding the company would continue to invest despite the economic uncertainty.