Tesco reports strong growth across Irish market as profit reaches €2.7bn

Chief executive, Cork man, Ken Murphy said the supermarket group was conscious that many customers continued to face significant cost-of-living pressures

Tesco is benefiting from consumers looking to save money by cooking and entertaining at home rather than dining out, and from them prioritising essentials over more discretionary purchases.

Retailer, Tesco said on Friday there were "encouraging early signs" that inflation was starting to ease across the market as it reported a 7.3% increase in underlying Irish sales in the last quarter.

Combining both its UK and Irish markets, that figure rose to almost 9%, with operating profit reaching just under £2.3bn (€2.7bn) for its 2022/2023 financial year.