Tesco (TSCO): Lifts profit guidance floor and raises buyback to £950m
Tesco raised the bottom of its full-year profit guide to £3.15bn-£3.3bn and lifted its buyback to £950m from £750m. First-half adjusted operating profit rose 6.5% to £1.78bn. Market share slipped slightly year on year.
Why it matters A higher guidance floor and a bigger buyback signal management confidence in UK grocery margins, though a small year-on-year dip in market share shows competition is still intense.
What we verified Interim figures were cross-checked across Hargreaves Lansdown and Directors Talk: adjusted operating profit £1,783m (from £1,674m), guidance £3.15bn-£3.3bn (from £3.0bn-£3.3bn), buyback £950m (from £750m). The share price reaction was not verified.
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