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Britain's Tesco Sees Opportunities For Further Margin Improvement

Tesco, Britain's biggest retailer, sees opportunities to raise its margins beyond the end of its current recovery plan, it said on Tuesday.

In April the group reported a 34% rise in full-year operating profit and said it had met or was about to meet the vast majority of its turnaround goals - including a key margin target of earning between 3.5 and 4 pence of operating profit for every pound customers spend by the end of its 2019-20 financial year.

'Mix Opportunities'

In a slide published on its website as part of its Capital Markets Day, Tesco said: "We have the further cost reduction and mix opportunities that allow us to offset inflation, improve our customer offer and/or increase margin."

Tesco also said it would be able to enhance cash growth ahead of profit.

News by Reuters, edited by Donna Ahern Checkout. Click subscribe to sign up for the Checkout print edition.

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