According to sources in the building industry, Tesco is to ramp up development of it’s storesspending £1.6bn on the development programme. Tesco plans to build a total of 2.4 million ft2 this year, a rise of 41% on the below average 1.7 million ft2 in 2009.
A close source to Tesco said: “We’ve been told they definitely want a 25% increase [above the 2 million ft2 annual average] in the floorspace delivered this year from previous years. And they’re talking about bringing in other contractors.”
The statement came as Tesco reported a 10% rise in pre-tax profit to £3.2bn.
Source: Building.co.uk
