Tesco group revenue in the United Kingdom (UK) 2015-2024

In its 2023/24 financial year, Tesco’s annual revenue amounted to more than 62.8 billion British pounds in the United Kingdom and the Republic of Ireland. This was an increase of over 2.6 billion pounds compared to the prior financial year. The company’s profit in the UK and the ROI increased and came to 2,689 million in 2023/24. 

Tesco in profile

Tesco PLC was the leading grocer on the UK market as of April 2024 and has been since the start of the millennium. The company, which originated in Hertfordshire, employed almost 337,600 people worldwide in 2023. Founded in 1919 by Jack Cohen, the company generates most of its revenue on the UK market and operated in other European and Asian countries, before selling the Asian business in 2020.

Developments in the grocery market

As of April 2024, Tesco's market share of the grocery market in Great Britain amounted to 27.4 percent. Tesco's market share has remained relatively stable over the survey period, fluctuating between 26 and 28 percent. The other companies from the so called ‘big four’, Asda, Sainsbury’s and Morrisons have seen a decline of their market shares. Winners on the market were the German discounters Lidl and Aldi. Aldi recently took over fourth place in the grocery store ranking from Morissons for the first time.