Man with a plan: Tesco boss Dave Lewis seals turnaround with bumper profits

Tesco has announced a bumper full-year profits haul as Britain’s biggest retailer continues an impressive turnaround under boss Dave Lewis (above). The group reported a 28.8 per cent rise in annual pre-tax profits to £1.67 billion, ahead of forecasts, while revenue grew 11.2 per cent to £63.9bn. Like-for-like sales increased by 2.9 per cent over the 52 weeks to 23 February. As part of efforts to position Tesco to meet the challenges of a rapidly changing market, Lewis forked out £3.7bn to acquire cash-and-carry business Booker and launched discount chain Jack’s.