LONDON ― Tesco raised its annual profit forecast on Thursday as Britain's biggest supermarket group won market share in its first half (H1), giving it momentum ahead of the key festive trading period.

The group, which has a near 28-percent share of the UK grocery market, said it now expected retail adjusted operating profit, its preferred profit measure, of 'around' 2.9 billion pounds ($3.8 billion) for its 2024-2025 year, up from a previous forecast of 'at least' 2.8 billion pounds. It made 2.76 billion pounds in 2023/24.