Tesco lifts profit forecast and says consumer confidence is resilient

Sales rise 2% to £33.8bn in the past six months, helped by strong trade online

• Business live – latest updates

Tesco has raised its annual profit forecast as the supermarket group said consumer confidence has remained relatively resilient this year despite ongoing geopolitical tensions “creating uncertainty”.

The UK’s biggest grocer said sales rose just 2% to £33.8bn in the first six months of its financial year but underlying profit was up 6.5% to £1.8bn.