Tesco creates 6,000 jobs in UK

Click to follow
The Independent Online

Supermarket group Tesco is to create 6,000 UK jobs under expansion plans announced today.

The UK jobs will be part of 20,000 being created worldwide.

The expansion includes plans to build new stores in "regeneration areas" in Britain. The first of these will open in Leeds in September.

The schemes in regeneration areas will create 2,000 of the new posts, Tesco said.

Other jobs will be created over the coming year through store refits and extensions and an expansion of the Tesco Direct home shopping service.

The group, the UK's biggest supermarket chain, also announced plans to spin off its Internet business as a separate subsidiary company.

The subsidiary, Tesco.com, will include the group's online home shopping operation and its own Internet service provider.

Tesco said its home shopping business was now the largest in the world, with annual sales of £125 million.

The group said it would spend around £35 million on its e-business in the current financial year.

The plans came as the group announced full-year results better than market expectations.

Sales in the year to February 26 reached £20.3 billion, up almost 10% on the previous year.

Profits before tax hit £933 million, up from £842 million.

Tesco saw its fastest expansion overseas, with sales in continental Europe up almost 19% and sales in Asia up 200%, although both regions remain a small part of the business.