Tesco boosted by Asian sales surge

Tesco has reported am 8.8 per cent rise in the third quarter – helped by a strong performance from international stores.

The supermarket chain said it was performing in line with market expectations while its market share was being boosted by the opening of more store space.

Total international sales jumped by 15.7 per cent while Asia surged by 23.4 per cent in the 13 weeks to 27 November.

In Europe there were improved sales in Hungary and Turkey, the retailer said.

But UK stores open over a year were sluggish, rising only 1.5 per cent.

Chief executive Sir Terry Leahy said: “We've made good progress in the third quarter with growth from across the Group. Our continued investment in the shopping trip and our new space opening programme across our markets are giving us good sales momentum and market share gains.

“As the global economic recovery gathers pace, our broad-based strategy, combined with our ongoing focus on productivity savings, is enabling us to maintain growth in a sustainable, profitable way - delivering value for customers and for shareholders."