- Tesco said that trading since its Christmas update had been in line with management's expectations and that it expected to deliver a full-year operating profit before exceptional items of at least £1.575bn.

The supermarket chain released the guidance as part of a prospectus for its planned takeover of wholesaler Booker.

Tesco said it also intended to pay a final dividend of 2.0p per share.

Upon completion of the merger, Tesco said Charles Wilson would be appointed as chief executive of Tesco's retail and wholesale operations in the UK and Ireland.

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