The transport and storage arm of Tesco has attributed its increase in revenue and profits to “good planning” and its relationship with suppliers.
In its recently published set of accounts for the 52 weeks ending 26 February 2022, Tesco Distribution increased turnover by 8.8% to £2.1bn.
Pre-tax profit rose by 16.5% to £103.2m.
It said it had been “an important year” for Tesco. In a business review, the company said: “Not only has it managed the ongoing impact of the Covid-19 pandemic, but it has responded to several difficult industry challenges, always moving quickly and with a clear focus on doing what is right for customers.
“Thanks to good planning and great collaboration from suppliers, Tesco kept products moving and protected availability.
“The company’s performance is expected to continue throughout the next financial period and it is anticipated that the current performance levels will be maintained.”
Tesco Distribution added that there was currently an increased level of macroeconomic uncertainty such as cost and wage inflation, which was impacting upon operational costs, particularly in relation to food supply.
“This uncertainty is exacerbated by the war in Ukraine. The situation is being monitored actively and contingency measures are in place to manage these risks.”
