Tesco Distribution displayed “incredible resilience and agility” in the face of the Covid-19 pandemic last year to deliver a 23% boost in pre-tax profits.
Reporting its latest annual results to 28 February 2021, the company revealed a rise in turnover to £1890.5m (2020: £1791.2m) and a boost in pre-tax profits to £88.5m (2020: £72.1m).
The business transports and stores goods for Tesco stores across the UK. The Tesco Distribution network typically operates 24 hours a day, seven days a week, delivering stock to Tesco and its customers.
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In its strategic report to the results the company said: “The aim is to deliver the right case on the right cage to the right shop at the right time, every time, so that customers can get what they want.”
However the report also notes that the pandemic may have a “significant and prolonged impact” on global economic conditions and “disrupt” the company’s supply chain, adding that it has put in place contingency plans to deal with these risks going forward.
The report praised the company’s performance in facing the challenges the pandemic brought last year. It said: “In what has been one of the most challenging years the business has faced, (Tesco Distribution) has shown incredible resilience and agility.
“The company did not accept any of the financial support available or make use of the furlough scheme. While costs in responding to the pandemic have been considerable the company has strengthened its relationships with its customers and built a stronger business for stake holders.”
