Tesco drivers and warehouse workers must get a fair pay increase following the publication of financial results revealing the supermarket was making “huge profits”, the Unite union said.
The union’s general secretary Sharon Graham said: “Tesco continues to bring in huge profits after years of unfairly inflating grocery prices.
“Profiteering is endemic across our economy, with hard up families and working people paying the price for corporate greed.”
The comments came after the supermarket giant said it expected to make an operating profit of between £2.7bn and £3bn for the year ahead, compared to the £3.1bn it made for the last financial year.
Tesco said it had seen further increases in the competitive intensity of the UK market and the lower profit prediction gave it “flexibility and firepower” to respond to market conditions.
Chief executive Ken Murphy added: “Despite inflationary headwinds, we are committed to ensuring customers get the best possible value by shopping at Tesco, and see further opportunities to strengthen our competitiveness.”
Its latest results showed group sales increased by 3.5% to £63.6bn, although pre-tax profits fell 3.2% to £2.2bn.
Graham said: “Unite will be fighting for our members at Tesco who are drivers and warehouse workers to receive a fair pay rise – it is clear the company can more than afford it.
“As for companies taking advantage of the ongoing cost of living crisis to grab oversized profits, action from the government to protect working people is long overdue.”
Chris Tindall started writing for the haulage and logistics industry in 2002 and quickly realised there was enough going on to keep him busy for a very long time.View full Profile
