Every little certainly does help, expecially if you're Tesco
The UK's favourite supermarket has turned your weekly big shop into beellions. Seemingly the masters of alchemy, Tesco have today announced pre-tax profits of over £3 billion - a record for a UK retailer and, despite the recession, 10 per cent up on the previous financial year.
The company's total revenue was £59.4 billion, meaning consumers are spending over a billions pounds a week with them. However, the figures also illustrate the tight margins Tesco are working too - just 5p in every pound. Every little helps though, or so we've heard.
Tesco has warned however, that the second half of the last financial year saw a steep downturn in consumer spending, and that it was too early to predict the company's performnce over the coming twelve months.
Bitterwallet confidently predicts Tesco will continue to rake in billions - we put it down almost entirely down to their hypnotic yellow label offers, and no doubt you do too.