Profit after tax rallied to £1.2 billion ($1.5 billion) in the 12 months to the end of February
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Britain's biggest retailer, supermarket group Tesco, reported Wednesday that annual net profit surged 61 percent as easing inflation helped shoppers buy more products.
Profit after tax rallied to £1.2 billion ($1.5 billion) in the 12 months to the end of February, Tesco said in a statement, with chief executive Ken Murphy adding that "inflationary pressures have lessened substantially".
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