Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Tesco Ireland’s profits slump

Tesco’s Irish arm has reported a 55% drop in profits during the first half of the year, due to competitive pricing in supermarkets.

Like-for-like sales at Tesco Ireland fell 3.7% during the six months to August 29 despite generating revenues of €1.23bn (£863m).

Tesco Ireland chief executive Andrew Yaxley said: “Over the last six months our priority has been to simplify our business so that we can maximise our investment in price and service, and going forward simplification and managing operating costs will continue to be a priority so that we are able to invest in our customers.”

Meanwhile it emerged yesterday (November 23) that Tesco has been knocked off the top spot as Ireland’s biggest supermarket.

SuperValu now has a 24.6% market share according to the latest Kanter Worldpanel figures.

Tesco was just behind with 24.1% while Dunnes Stores is third with 23.7% of the market.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.