Tesco profits leap into "uncertain market"

Tesco's profits jumped 28 percent on what the biggest supermarket chain in the UK has said is "uncertain".

General Manager Dave Lewis said the group was on track to reach the "vast majority" of the recovery targets it set for four years ago, as a result of an accounting scandal.

The group said its performance was "strong" and Tesco had almost doubled its dividend.

Profit before tax reached £ 1.7 billion, with UK comparable store sales up 1.7%.

"After four years, we have reached or are about to reach the vast majority of our recovery goals, and I am very confident that we will complete the trip in 2019/2020," said Mr. Lewis, who had oversaw the takeover of wholesaler Booker in 2017.

"I'm delighted with this widespread improvement across the company," he said.

Jobs were lost, its goal being to save 1.5 billion pounds a year. Up to 9,000 positions were endangered in January when the chain announced that it would close food outlets in 90 stores.