Analysts predict small rise in Tesco sales and profits

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The Independent Online

Analysts predict Tesco’s full-year results on Tuesday, the first for its new chief executive, Philip Clarke, will show an annual pre-tax profit of £3.8bn, against £3.4bn the year before, with UK like-for-like sales, excluding fuel, barely up at 0.7 per cent.

The retailer’s Asian profits are expected to be up 24 per cent, but its US operation is forecast to report an operating loss of £165m. Tesco said at the half-year that the American unit would not reach profitability for two years.