Tesco rings up profits hike after year of 'strong progress'

Tesco has posted a surge in annual profits as it hailed a year of "strong progress" after more than two straight years of rising sales and the completion of its £3.7bn (€4.2bn) Booker deal.

The UK's biggest supermarket reported a 28.4% jump in underlying operating profits to £1.64bn (€1.88bn) for the year to February 24.