Supermarket group Tesco raised its full-year profit forecast, saying it benefited from an unusually hot summer and won market share from rivals.
Its share of the Irish grocery market grew to 23.7 per cent this year, with the retailer pointing to three years of consistent gain.
The group said it now expected full year 2025/26 adjusted operating profit of between £2.9 billion and £3.1 billion, up from previous guidance of between £2.7 billion and £3.0 billion.
Tesco made £3.13 billion in 2024/25.
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Like-for-like sales in Ireland in the first half were up 4.8 per cent. Online sales were up almost 19 per cent, with the launch of same-day delivery last year supporting growth. The retailer also launched rapid deliveries in Ireland earlier this year.
“Competitive intensity remains elevated,” Tesco said.
“However, in the first half, a better-than-expected customer response to our actions and the benefit of an extended period of good weather have helped offset the cost of our investments.” (Reporting by James Davey; Editing by Kate Holton)
