Image: Tesco Image: Tesco

Tesco has reported a 28% rise in its full-year pre-tax profits despite what it described as an "uncertain" market.

The UK's largest supermarket chain reported a profit of £1.7 billion for the year, and said like-for-like sales rose 1.7%.

Four years after being appointed, chief executive Dave Lewis said the company was on track to hit the "vast majority" of its turnaround targets.

He said: "After four years we have met, or are about to meet, the vast majority of our turnaround goals. I'm very confident that we will complete the journey in 2019/2020.

"I'm delighted with the broad-based improvement across the business."

As part of a £1.5bn cost-cutting scheme, Tesco has cut jobs and a further 9,000 could be at risk after it announced plans to close food counters in 90 of its stores.

Tesco also recently launched Jack's, a discount supermarket chain designed to rival German rivals Aldi and Lidl, which it said has seen a "strong response".