Tesco unveils £1bn revamp plan after drop in UK profits Today it said: "The Tesco standard ranges, which comprise more than 8,000 products and represent around 40pc of our UK food sales, are being comprehensively upgraded with a programme of range-by-range improvement, including over 2,000 new lines, through to April 2013." It said: "The more important driver of this deterioration, which was more pronounced in December and January, was a lack of couponing activity at a time when the industry at large was issuing large volumes of cumulative spend coupons. We have since remedied this with a more active couponing programme. In recent weeks it has been giving out many £5 vouchers for those people buying £40 on groceries. Full-yar pre-tax profits increased by 5.3pc to £3.84bn, a record level, helped by £1.1bn of profit from its overseas businesses, the first time it has made more than £1bn from its non-British supermarkets. This offset a 1pc fall in UK trading profits to £2.5bn. Tesco, despite all of its troubles, remains the only retailer to have made an annual pre-tax profit of £2bn, let alone £3bn. Overall group sales increased 7.4pc to £67.1bn. One major disappointment is the full-year loss from Fresh & Easy, its grocery chain on the west coast of America. Full year losses hit £153m. Many analysts hoped this loss, which was £180m in the previous year, would fall to £120m.