Tesco raises earnings expectations

TESCO has raised its annual earnings expectations as it said good weather and efforts to keep its prices low in a competitive market had boosted trading.

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The UK's biggest supermarket reported an increase in sales over the first half of the year. UK sales grew by 4.9% compared like-for-like with the same period last year, it said.

The group's adjusted operating profit also rose by 1.6% to £1.67bn for the half-year.