It’s hard to find any bad news in this morning’s interim results from Tesco (LSE: TSCO), and I looked pretty hard. “Political uncertainty” in Thailand is the only slight downer, and I don’t regard that as a significant cause for concern. Consider the following:
Group sales up 12.7% Profit before tax up 10.3%, exceeding £1bn Underlying earnings per share up 10.8% Results beating analysts’ forecasts
To maintain growth in a business of this size — sales were nearly £23bn in the first half-year — it’s necessary to fight on a number of fronts, and that’s what Tesco is doing:…