Tesco to repay business rates relief



This morning, Tesco announced its ambition to repay £585m of business rates relief that it received during the coronavirus pandemic. This is a significant step taken by the UKs largest grocery operator and is the first in the sector to do so.


Tesco are in a strong position to replay this amount given they are raising $10bn from the sale of their Thailand businesses and increased UK grocery sales have helped pre-tax profits rise by almost 29%.


Newly appointed CEO, Ken Murphy said:


“Giving this money back to the public is absolutely the right thing to do by our customers, colleagues and all of our stakeholders”


To read more, please see here

Supra Logo White-Gold RGB.png

123 Victoria Street, London, SW1E 6DE

Telephone: +44 20 3790 8087,  Email: ir@atratocapital.com

ABOUT

Supermarket Income REIT plc is listed on the London Stock Exchange. SUPR acquires UK supermarket sites that form a key part of the future model of grocery in the United Kingdom. SUPR aims to provide long-term inflation-linked income, from institutional grade tenants and the potential for capital growth through active asset management. Atrato Capital is the Company's Investment Adviser.

CONNECT

  • White Twitter Icon

GOVERNANCE

Supermarket Income REIT Plc is a proud member of the Association of Investment Companies implementing the principles and recommendations of the AIC’s Code of Corporate Governance.

Supra Logo Blue-Gold RGB.png