British retail chain Tesco to create 16,000 jobs

LONDON: British supermarket chain Tesco will create 16,000 jobs this year, the company said on Tuesday after announcing a 9.3 per cent rise in net profit over its fiscal year that ended in February.

The company said 9,000 of the new jobs would be in Britain. Tesco currently employs more than 460,000 people in 14 countries around the world and has a major presence in Asia including China, Japan, Malaysia and South Korea.

"By remaining focused on our strategy Tesco has weathered the economic storm well," chief executive Terry Leahy said in a preliminary earnings statement, adding that "our business is now stronger than it was before the recession."