FTSE LIVE: Tesco posts a 30% jump in earnings; Asos profits crash; Sterling creeps up ahead of EU summit
- Tesco profits jumped nearly 30 per cent in its last full year to £1.7billion
- Asos half-year profits slumped 87 per cent, while sales jumped 12 per cent
- Sterling nudged up a touch to $1.3073 ahead of today’s EU summit
Tesco boss Dave Lewis said today that the UK’s biggest supermarket has reached most of its goals on the road to recovery and has therefore upped its final dividend.
Meanwhile, fashion giant Asos said expansion costs and discounting hit drove an 87 per cent drop in half-year profits to £4million, while sales jumped 12 per cent.