TESCO’S FESTIVE LIFT

TESCO is set to reveal a 22pc jump in full-year profits next week following bumper Christmas sales.

Britain’s largest supermarket is expected to have raked in £1.6bn just months after it announced that as many as 9,000 jobs could be axed in a major cost-cutting drive. Total sales, including at wholesaler Booker which Tesco bought for £3.7bn in 2017, are tipped to surge 12pc to £64.5bn.

It was boosted by a strong festive performance which saw it post the highest Christmas sales growth in almost a decade.

Tesco shares climbed 0.3pc, or 0.7p, to 236.9p.