Tesco announces net zero acceleration after outperforming profits

The supermarket chain Tesco has announced its half year profits and plans to become more sustainable.

In the first half of 20/21 Tesco announced an adjusted profit of £1.37bn which has since jumped by 41 per cent to £1.46bn in the first half of 21/22.

According to Tesco, its subsidiary Booker has seen a “sharp recovery” throughout this period too.

The firm’s climate goals have also been accelerated to 2035 as soft plastic recycling is now available in all UK large stores.

Chief executive, Ken Murphy, said: “We’ve had a strong six months; sales and profit have grown ahead of expectations, and we’ve outperformed the market. This was a strong team effort and I would particularly like to recognise and thank our colleagues who continue to do an incredible job in difficult times.

“I’m really pleased with our progress as we increased customer satisfaction and grew market share leading to a strong financial performance. With various different challenges currently affecting the industry, the resilience of our supply chain and the depth of our supplier partnerships has once again been shown to be a key asset.”

To further strengthen its position Tesco has stated its Aldi Price Match has expanded to around 650 products and ‘Clubcard Prices’ now in Express stores and unbeatable Low Everyday Prices relaunched on 1,600 products.

The supermarket chain has also announced a £500m share buyback programme.