Supermarket giant Tesco has reported an 11.8% increase in its annual profits - which rose to £2.85bn, despite fears of belt-tightening by consumers hit by mortgage rises, increases in fuel bills and the rising cost of food.
The retail behemoth said that rises in the cost of basic foodstuffs masked price cuts on non-food items, pointing out that while a loaf of bread may have skyrocketed from £89p to £1.15, on average the cost of a pink television had fallen by £2.
Experienced analysts were staggered to hear that Tesco had bucked the downward trend in the UK high street. Apparently nobody could possibly have foreseen that selling the necessities of life at ever-increasing prices could be a way to make money.
No comments:
Post a Comment