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

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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.


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