Tesco.com racks up increased profit
Tesco.com, the ecommerce operation of the humongous UK supermarket chain, more than doubled its profit over the last year.
The grocery delivery operation racked up a 29 per cent increase in sales, taking revenues to £577m. Profits also jumped from £12m to £28m last year - although these figures exclude start-up losses for its ecommerce operations in the US and Korea. Tescom.com delivers some 120,000 customer orders a week.
Tesco.com's results were contained in group prelims for the year to the end of February. Group sales were up 18.7 per cent to £33.6bn, while pre-tax profit was up 17.6 per cent at £1.6bn.
One footnote of interest. Punters who shop at Tesco will, no doubt, be familiar with its "Computers for Schools" scheme, with shoppers receiving vouchers depending on the amount they fork out at the checkout. These can then be pooled together and, once schools get enough, can be exchanged for IT gear.
So, how much has Tesco handed out to UK schools in the last 12 years? Erm…£84m of computer kit - that's how much. ®