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Tesco profits fall as Covid costs offset sales surge

Supermarket hired 50,000 temporary workers, with about 20,000 joining permanently

Tesco’s profits tumbled by almost a fifth to £825m last year, after racking up almost £900m in extra costs caused by the coronavirus pandemic.

The UK’s biggest retailer won customers from rivals and its total sales rose by just over 7% to more than £53bn in the year to the end of February, beating City analysts’ expectations. In the UK and Ireland sales climbed 8.8%.

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Read the original article at The Guardian

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