The Tesco supermarket chain has announced a six-month profits surge that could mean the creation of new jobs and the opening of new stores in Ireland.
Sales figures in Ireland saw an increase of 7.8 per cent during the first six months of this year.
The announcement comes as the UK-based parent revealed pre-tax profits up 14.2 per cent to $704 million and plans for 20,000 new jobs across Europe and Asia.
Ireland is expected to see further jobs increases by the group in the coming months.
"The key to our grow in then past year has been our strategy of regular price reductions, which is a considerable achievement in an inflationary economy," said Tesco Ireland managing director Maurice Pratt.
"The consumer has been the real beneficiary of these initiatives and we are very pleased with the progress we are making in improving what we offer and encouraging greater competition in the Irish grocery market".
The group operates 77 stores across Ireland and is planning to open seven new stores within the next two years. It also hopes to enter the petrol-retailing business, with three sites in Dublin and Killarney being considered.
Tesco said its upward growth figures will put it on track to become Europe’s second-largest retail chain after France’s Carrefour.
It also said it will soon launch an online shopping service on the US market with US chain Safeway.