Britain’s Tesco expects profit rise in 2024/25 year

LONDON (Reuters) -Tesco, Britain's biggest retailer, forecast a further increase in profit in its new financial year as strong demand and new customers helped it to post an 11% jump in 2023/24. The supermarket group on Wednesday forecast retail adjusted operating profit, its key profit measure, of "at least" 2.8 billion pounds ($3.55 billion) for its 2024/25 year. Tesco has a 27.3% share of Britain's grocery market, up 40 basis points on the year, according to industry data.