Supermarket giant Tesco has announced it is back in the black

Tesco, which has stores across the region has this morning announced a return to profit.

Wednesday, 13th April 2016, 7:58 am
Updated Wednesday, 13th April 2016, 8:02 am
Tesco at Roker

This is the first quarterly sales growth for the company for three years.

The supermarket giant reported a £162m statutory pre-tax profit for the year to the end of February.

The results follow last year's £6.4bn loss, the worst results in its history.

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Tesco chief executive Dave Lewis said the group had made "significant progress".

He said: "Our balance sheet is stronger and we are making good progress in rebuilding trust in Tesco and our investment case."