Five things you need to know about Tesco’s latest results

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Tesco has reported rising half-year sales and profits as the supermarket received a boost from its takeover of wholesaler Booker. Here’s five things you need to know about the latest set of results:

1 - It’s the 11th quarter in a row of rising UK and Ireland like-for-like sales for Tesco, with a marked improvement to 4.2 per cent over the past three months.

The launch of Jack's is part of Tesco's centenary celebrations

The launch of Jack's is part of Tesco's centenary celebrations

2 - The results vindicate Tesco’s decision to complete a £3.7bn takeover of Booker. At the time some analysts weren’t so keen on the idea. However, in the latest set of results Tesco booked a 47.6 per cent jump in operating profits to £685m, £97m of which was linked to Booker. Can it keep up the momentum?

3 - Tesco isn’t done expanding. The UK’s biggest supermarket is directly taking on the likes of Aldi and Lidl, discounters who have taken a large chunk of market share from the traditional big four supermarkets, Leeds-based Asda, Sainsbury’s, Bradford-based Morrisons and of course Tesco. Tesco last month said it was launching its own range of discount stores called Jack’s.

4 - The reason why it’s called Jack’s? Well it’s named after Sir Jack Cohen, the gentleman who founded Tesco.

5 - Tesco’s omparable sales were up 2.3 per cent in the second quarter.