Supermarket chain Tesco has reported an 11.8 per cent rise in pre-tax profit in 2007, taking the group's profits for the year up to £2.846 billion.
The company said that its total sales in 2007 were also up 11.1 per cent to £51.8 billion. Tesco said that its dividend per share increased 13.1 per cent to 10.90 pence per share in the period.
The company reported an increase in international sales of 25.3 per cent and said that 50 per cent of its trading profit came from its operations abroad.
In the UK the supermarket's core sales were up 6.7 per cent and trading profit was up 7.1 per cent. Non-food sales in the UK were up 8.7 per cent, whilst online sales and profits jumped 30.9 per cent and 49.2 per cent respectively.
Tesco also said that they were making strides towards green consumption and were on track to saving two billion shopping bags.
Terry Leahy, chief executive of Tesco, said, The breadth of the Group and the strength of our business model have enabled Tesco to deliver another year of double-digit sales, profit and earnings per share growth - in challenging market conditions.
We begin the new financial year confidently - with a good start in the UK, excellent progress in our established international markets and promising early performance from our investments in future growth, particularly in the United States, China and Turkey.