Tesco rings up €1.6bn profit

Supermarket chain Tesco turned up the heat on its rivals today by revealing it made profits of £1.09bn (€1.6bn) in just six months of business.

The figure, representing an increase of 10.3% on the comparable performance in 2005, was achieved after sales from UK and overseas hit £22.7bn (€33.6bn) in the 26 weeks to August 26.