LONDON Oct 5 Britain's biggest retailer Tesco
set out plans to increase its profitability in the next
three years, after reporting a 60 percent rise in first-half
profit and a third straight quarter of UK underlying sales
"Today, we are sharing our ambition to deliver a Group
operating margin of between 3.5 percent and 4.0 percent by our
2019/20 financial year," it said on Wednesday, up from 2.18
percent in the period.
The firm made operating profit before one off items of 596
million pounds for the six months to Aug. 27.
That compares to 354 million pounds in the same period last
year and analysts' forecasts which ranged 487-624 million
It said it was on track to deliver profit of 1.2 billion
pounds for the full year, broadly in line with market forecasts.
(Reporting by Paul Sandle; editing by Kate Holton)