Quick links to latest articles:

Tesco thrives in tough markets

30 September 2008

Supermarket giant Tesco has announced healthy profits, despite the tough financial conditions cutting down on consumers’ spending.

Profit before tax and one-off items was up 10.3% for the six months to August 23, The Times reports.

“Tesco is at its best in tough markets,” said Terry Leahy, chief executive of Tesco, a company which says it has ‘already taken £620m off shopping bills since March’.

“At a time like this,” said a spokesperson for Think Money, “with the rising cost of living pushing so many people into financial hardship or even debt, it’s encouraging to see large retailers competing on price.”

“There are so many bills which people simply can’t avoid, but competition between retailers does give them a chance to ‘vote with their feet’ by going to shops where they believe they’ll get good value for money.”

---

Think Money provide a range of debt solutions, including debt management plans, debt consolidation and IVAs (Individual Voluntary Arrangements). If you are struggling with debt, contact one of our expert debt advisers now.

Our initial advice on your best financial solution is free. Fees payable when continuing service is provided. Calls may be recorded for training and quality purposes.

Think Money Limited © 2010. All rights reserved. Pennington House, Carolina Way, South Langworthy Road, Salford Quays M50 2ZY. Company Reg No: 04926097. Registered in England and Wales.