RETAILER Tesco’s mammoth profits must come with a fair pay rise for drivers and warehouse workers, Unite warned today.

The union’s comments came after the grocery giant reported bumper sales for 2024/25, up 3.5 per cent to £63.6 billion. 

Tesco’s adjusting operating profit stood at £3.1bn for the 12-month period ending February 22, representing a 10.6 per cent year-on-year increase.

But the supermarket bemoaned that it expects its operating profits to dip to between £2.7bn and £3bn this year amid a price war with other supermarkets. 

“In the last few months, we have seen a further increase in the competitive intensity of the UK market,” a statement by the supermarket said.

Tesco was among several supermarkets that signed a letter from the British Retail Consortium to the government, claiming that National Insurance and minimum wage increases would force retailers to raise prices and cut jobs.

Unite general secretary Sharon Graham blasted Tesco for reaping huge profits after “years of unfairly inflating grocery prices.”

She said: “Profiteering is endemic across our economy, with hard up families and working people paying the price for corporate greed.

“Unite will be fighting for our members at Tesco who are drivers and warehouse workers to receive a fair pay rise – it is clear the company can more than afford it.

”As for companies taking advantage of the ongoing cost-of-living crisis to grab oversized profits, action from the government to protect working people is long overdue.”