Tesco profits to come under pressure amid soaring food inflation

The UK’s largest retailer will update investors and analysts over its financial performance for the year to February next week.

Tesco is due to reveal a strong rise in sales but lower profits (PA) (PA Archive)

Tesco is expected to reveal a dip in profits for the past year as the supermarket group grappled with rampant food and drink inflation.

The UK’s largest retailer will update investors and analysts over its financial performance for the year to February in an update on Thursday April 13.

A consensus of analysts has said Tesco is due to reveal a strong rise in sales but lower profits due to the challenging backdrop for costs.