asda travel money contact number

Asda Travel Money

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ASDA Horwich Travel Money Bureau

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Asda Travel Money 4+

Travelex global, designed for iphone.

• 4.7 • 1.3K Ratings

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Description.

Take the hassle out of travelling with Asda Travel Money. Manage your Asda Travel Money Card or order travel money on the go via the app. With the app you can easily reload your card, check your balance and recent transactions. If you need currency in cash you can also order it via the app and have it sent straight to your door or collect in one of our in-store locations across the UK. The Asda Travel Money Card is the perfect travel companion with: 16 currencies to choose from Free ATM withdrawals worldwide* Safe and Secure No links to your bank accounts Millions of locations to choose from Pin protected to safeguard against fraud Lock in your exchange rates Accepted anywhere Mastercard® Prepaid is accepted 24/7 global assistance to replace your card or provide you with emergency cash You can also order cash in the app to lock in our very best rates on your foreign currency. Whether you are looking for euros, dollars or one of our other 50 currencies, we can deliver to your home or you can pick up in store.  Want to get in touch? Email us at [email protected] *Although we at Asda Travel Money do not charge ATM fees, please check the ATM before using it as some operators may charge their own fees. Asda Money Currency Card is issued by PrePay Technologies Limited (PPS) pursuant to license by Mastercard International. PPS is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN:900010) for the issuing of electronic money and payment instruments, with its registered office at Floor 6, 3 Sheldon Square, London, W2 6HY, UK. PPS is registered in England under company number 04008083. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Asda Travel Money ordered via the app is provided by Travelex Currency Services Limited, registered number 03797356 with registered address Worldwide House, Thorpewood, Peterborough, PE3 6SB If you have any feedback on the experience of our app we’d love to hear it; email us at [email protected]

Version 3.19

At ASDA Travel Money, we're committed to delivering the best mobile experience possible. In this latest update, we've prioritised your security, added exciting new features, and resolved those pesky bugs that may have been causing inconvenience. Enjoy peace of mind with enhanced security measures, explore a range of fresh features, and experience a smoother app performance.

Ratings and Reviews

1.3K Ratings

Easy to use, if you don’t want to carry notes around, you can use this card aboard, even add extra on the app from your debit card. Would definitely recommend and use for future holidays

Developer Response ,

Hi. Thank you so much for your review! Kind regards, Online Support Team

Get ready for a hassle

When opening the travel card at the Asda branch, they failed to inform me that this card has one of the most pointless policies I have ever heard, it can only be topped up once every 24hrs. Luckily I tried to top it up before my flight as I would have found myself with no money on the card before the initial 24hr period. Now, when registering on the app, I would continuously receive the prompt stating I have entered incorrect information. So had to call customer service and they confirmed the info was indeed correct and then they had to register my details on the account before setting up the app.

Hi, sorry to hear this, so we can investigate the issue further, please can we ask you to email us at [email protected] so that we can follow up and perhaps provide a resolution. Kind regards, Online Support Team

Paying good, anything else forget it

Paying with pre loaded credit is a dream. Ability to check balance quickly. However topping up becomes a nightmare. Will not download app outside of UK on some phones. Doesn’t understand you have to navigate away from app to authorise via banks app. Asda app then sits there in a fluster. Still going through website was painless.

Hi, thank you for your review. We do apologise for the issues you have experienced with the app, if possible, pleas can you send any further feedback to [email protected]. Thanks, Online Support Team

App Privacy

The developer, Travelex Global , indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .

Data Linked to You

The following data may be collected and linked to your identity:

• Financial Info
• Contact Info
• Identifiers

Data Not Linked to You

The following data may be collected but it is not linked to your identity:

• Diagnostics

Privacy practices may vary based on, for example, the features you use or your age. Learn More

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Travelex Travel Money

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Asda Travel Money Card is issued by PrePay Technologies Limited pursuant to licence by Mastercard® International. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Asda Insurance by Asda Money: Policy Details & More

As well as being a well-known British supermarket, which also has its own clothing and home range, Asda also sells various financial services, including insurance. Through Asda Money, Asda offers travel insurance and pet insurance, as well as giving customers access to its own price comparator for home and car insurance. Intrigued by the idea of Asda Insurance? We have everything you need to know, including policy details, reviews and contact information, right here. Read on now to find out more.

Asda Insurance

Asda Insurance forms a part of the greater financial services offered by the famous British supermarket brand Asda. Under the sub-brand Asda Money , the company sells a variety of financial products, including credit cards, travel money, personal loans, money transfer services and insurance.

History of Asda

Before looking in more detail at the insurance policies offered by Asda Money, let’s take a little look at its parent company, Asda, and how it got to where it is today: one of the biggest supermarket chains in the UK.

The brand Asda was founded in 1965 when the Asquith brothers and the Associated Dairies company joined together. Before this union, the Asquith brothers were already the proud owners of the UK’s first self-service supermarket called Queens. This was soon turned into a chain and formed the foundation for the future Asda brand.

Ever wondered where the name Asda came from? Take the AS of the surname Asquith, and the DA from the company name Associated Dairies, and you have it: ASDA.

After the partnership and official creation of the Asda brand, the Asda stores thrived. Based on the principle of offering customers the best value for money , the company expanded its discounted products beyond food, introducing general merchandise, a clothing brand and opening the first discounted petrol station. Over the years it took its non-food business even further, launching its home brand and selling financial services like insurance under Asda Money.

In 2018, Asda and another famous British supermarket, Sainsbury’s, announced their proposal to merge, but the deal was shut down by the Competition and Markets Authority. If successful, it would have given the two companies around a 30% share of the UK’s grocery market.

• 1965 - The Asquith brothers join with Associated Dairies to create Asda.
• 1966 - The company acquires all GEM stores in the UK and start to sell general merchandise as well as food products.
• 1970 - There are over 30 Asda stores in theUK.
• 1977 - Asda launches its first TV adverts containing the now famous pocket tap.
• 1981 - The 100th ASDA store is opened.
• 1989 - Asda teams up with designer George Davies who creates a range of clothing for the store called George at Asda.
• 1996 - It launches its tickled pink campaign to help fight cancer and also opens its first Asda pharmacy.
• 1999 - Asda joins the big American Walmart family.
• 2000 - It creates its non-food online business.
• 2008 - The company opens its first eco store; it used recycled bricks from Liverpool docks to build the structure.
• 2012 - Asda opens the UK’s first drive-thru click and collect.
• 2014 - George home is launched.

Fun fact! Over time, the pocket tap has become so intertwined with the supermarket that it is now the official sign for Asda in sign language.

Asda Money: what insurance does it offer?

Asda Insurance is sold under the brand name Asda money. While Asda offers some insurance policies directly, for some types of insurance they simply offer a price comparison service . With working partnership with around 50 insurance providers and brokers, this service lets customers compare the prices and content of different policies and find a good match for them.

Home insurance

Until the start of September 2019, Asda sold home insurance directly. It had two main policies:

• Standard Home Insurance - as the name suggests, this was the basic policy that provided essential cover. As with most insurance policies, there was always the option to add cover on if you wished, allowing you to create a policy that suited your needs.
• Superior Home Insurance - this was Asda’s more comprehensive home insurance policy. With more things included as standard, it offered greater cover but less flexibility in the cover you could choose.

As of September 2019, Asda Insurance is no longer selling home insurance directly. If you have an existing Asda home insurance policy, it will remain valid until the end date stated in your policy documents. To find out more about the previous policies, read our Asda home insurance guide (coming soon).

Instead of selling its own home insurance, Asda now offers a home insurance price comparison service that helps customers compare home insurance policies offered by different providers.

Car insurance

The same is true for car insurance : Asda Insurance does not sell its own car insurance policies, but its car insurance price comparison service lets you compare standard car insurance, as well as van insurance, motorhome, motorbike and caravan insurance all online.

You can, however, purchase breakdown cover through Asda Money. The service is provided by Britannia Rescue and comes in three levels of cover:

• Roadside Cover - this covers you for breakdowns anywhere in the UK, but you are limited to six call outs a year.
• UK Breakdown Cover - this includes home assistance cover (e.g. if your car won’t start on your drive), and will take your car to a local garage when you break down.
• European Breakdown Cover - this has the same benefits as UK breakdown cover, but extends them to apply when you are driving in Europe, not just the UK.

Find out more about Asda breakdown cover and its car insurance price comparison tool in Selectra’s guide to Asda car insurance (coming soon).

Travel insurance

Unlike car insurance and home insurance, Asda Insurance actually sells its own travel insurance , meaning you can buy travel insurance directly from Asda online.

There are three levels of cover available:

All options can be purchased as either a single trip policy or as an annual multi-trip policy. As an extra bonus, if you take out an annual multi-trip policy, winter sports cover is included as standard. You can also purchase the policies as a family travel insurance if you wish. The level of cover best suited for you depends on your individual circumstances and the extent of protection you feel you need. Find out more in our Asda travel insurance guide.

Pet insurance

Asda Insurance also sells three types of pet insurance policies directly to customers.

• Lifetime - this policy ensures your pet is covered for the duration of his/her lifetime, as long as you renew the policy every year and keep up with your payments. Pertaining to certain conditions, your pet will stay covered for any ongoing or future illnesses during this time. This policy comes in three different coverage levels: Lifetime £2,000; Lifetime £4,000; Lifetime £10,000.
• 12 months - the 12 month policy covers vet fees (up to £2,000 or £5,000) for a conditions for 12 months after the condition has been diagnosed.
• Accident only - this protects your pet when they have a have a little accident, such as break a bone or cut their paw. This is the cheapest option out of the three but obviously doesn’t cover your pet for illness and disease.

If you have more than two pets, you can get a discount on your pet insurance with Asda Insurance through its multi-pet discount offer.

Asda Insurance contact details

If you have an existing insurance policy with Asda and would like to make a claim or issue a complaint, you can find the Asda contact details you need in our individual Asda insurance guides:

• For a home insurance claim or complaint, head to our Asda home insurance guide .
• For a claim or complaint regarding car insurance, visit our Asda car insurance guide .
• For a travel insurance claim or complaint, you can find the contact details you need in our Asda travel insurance guide .

For Asda pet insurance, we have listed the relevant phone numbers in the table below.

General queries

For all general questions and queries, you can contact Asda Money by sending an email to [email protected] . Asda will aim to get back to you within three working days. If you would prefer to reach out by post, you can send a letter to the following address.

Send documents to:

Asda Money Asda House Great Wilson Street Leeds LS11 5AD

Asda Insurance login

When reviewing insurance companies, we always check to see if they offer an online account system through which customers can manage their insurance policies. This service makes everything a bit easier if you want to change something about your policy, or simple just view your policy documents.

While Asda Money does have an online account system, it is only available for credit card, money transfer and corporate gift card customers. There is no Asda online account for insurance customers.

Asda Insurance review

As a whole, there are not that many customer reviews of Asda left online. Furthermore, it is very hard to find customer reviews of Asda Insurance specifically. On review sites such as Truspilot, the whole Asda company (supermarket and financial services) are grouped together.

These reviews are not too helpful for us in trying to see what customers think of Asda Insurance, but we did notice that quite a few bad complaints left on Trustpilot were about Asda’s customer service.

Terrible approach, zero customer skills and poor resolution! Sort your act out Asda Money...there’s a lot of competition out there and your frontline are not customer obsessed! Nik

While this says nothing as to the quality of Asda’s insurance policies or price comparison service, it does suggests that sometimes the company’s quality of customer service can be lacking, which is something that could affect Asda Insurance customers.

If you are interested in taking out a certain Asda Insurance policy , you can find more detailed reviews, including price comparisons and what the professionals think of the policies, in the relevant Selectra Asda insurance guide: Asda home insurance, Asda car insurance and Asda travel insurance.

Data and information correct as of September 2019.

All material on this page and the selectra.co.uk website is for information purposes only and does not constitute any form of financial advice. Selectra.co.uk is not responsible for any consequences that might arise from your use of the information provided.

Asda Insurance by Asda Money

Asda Travel Insurance: Reviews, Promo Code & More

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Welcome to the Online Grocery Help Centre

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Take a look at our recommended topics that can help you find an answer quickly.

• Something is damaged, missing or doesn’t meet my expectations
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For anything else take a look through our help topics

Delivery passes and booking slots.

• How do I amend my delivery slot?
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Managing my account and passwords

• How do I close my account?
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Express Delivery

• What do I do if there's a problem?
• What is ASDA Express Delivery
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• Uber Eats, Just Eat and Deliveroo deliveries from Asda
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• How do I check if this service is available to me?
• How do I place an Express Delivery order
• I ordered through Uber Eats, Just Eat or Deliveroo

Substitutions

• Setting substitution preferences for your order
• Unwanted substitutes – what to do
• About substitutions

About Online Groceries

• Website, checkout, and access problems
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• How do I check if something is available to order online?
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Please contact us if you can’t find an answer

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Asda bosses warned that IT switch could trigger payroll issues

Asda bosses pushed ahead with switching the supermarket’s IT payroll system, despite being warned that it could spark a breakdown that would impact workers’ pay.

Senior leaders at the company were cautioned in advance that the IT changeover could trigger the payroll glitch, which has since impacted 30,000 staff and left hundreds underpaid, reported The Telegraph.

The new revelation has led to unions calling for billionaire co-founder Mohsin Issa to apologise for the crisis, which first arose last month.

Last week the IT meltdown caused more issues during payday and staff again found themselves underpaid, while others were overpaid.

A senior employee at Asda told the Telegraph that there had been “thousands and thousands of complaints”, adding: “We knew it was going to happen.”

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Last month, some stores managers were forced to resort to making 200 petty cash payments to affected employees, however this is not expected to be done this month.

An Asda spokesman said: “The first payroll run with a large-scale systems migration rarely passes without any issues in any industry.

“For Asda colleagues, we unreservedly apologise to those impacted and continue to work with colleague representatives, including our unions, to rectify any outstanding issues – as a top priority.

“For the April payroll, Asda can confirm that the number of payroll queries was significantly reduced.”

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Money latest: Five big lenders hike mortgage rates amid interest rate uncertainty

A council that oversees many popular tourist towns on the Kent coast has said it is considering implementing a tourism tax to maximise income from visitors. Read this plus all the latest consumer and personal finance news below - and listen to the Ian King Business podcast as you scroll.

Monday 22 April 2024 19:00, UK

• Five big lenders hike mortgage rates amid interest rate uncertainty
• Popular seaside towns considering tourist tax
• 'That's why we go to Iceland': Supermarket scraps famous slogan to be more inclusive
• Train drivers at 16 companies to stage fresh strikes

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TikTok Shop has partnered with five second-hand luxury resellers to launch a pre-loved category on the app.

Designer products are now available to buy from five UK brands - Hardly Ever Worn It, Sign of the Times, Luxe Collective, Sellier Knightsbridge and Break Archive.

The social media app said the new category will support suers in being able to learn more about luxury fashion, find style inspiration and purchase pieces.

All of the brand's involved posted about the launch, with the Luxe Collective - which recently gained investment after appearing on the BBC's Dragon's Den - said it had been "waiting years to do this".

@luxecollective Come & Join me this Friday at 3pm to chat and shop Pre Loved Luxury on TikTok! 📲 ♬ Pieces (Solo Piano Version) - Danilo Stankovic

Jan Wilk, head of UK operations at TikTok Shop, said: "This announcement is an exciting first step in the world of preowned fashion for TikTok Shop.

"TikTok Shop is already a leader when it comes to discovery-based commerce and with a vibrant fashion community thriving on TikTok, this provides a unique opportunity for retailers to reach new audiences and customers with an inspiring and accessible way to embrace luxury fashion."

The launch of the category comes after the app launched a refurbished technology category, allowing users to buy second-hand mobile phones and tablets through the app.

Comments by the prime minister describing an alleged "sick note culture" in the UK have been heavily criticised by senior mental health professionals.

Dr Sarah Hughes, CEO of Mind, said Rishi Sunak's suggestions were "contrary to the reality for people up and down the country".

The PM said he wanted his government to be "more ambitious about helping people back to work and more honest about the risk of over-medicalising the everyday challenges and worries of life".

He has proposed a series of measures, including removing benefits after 12 months for those deemed fit for work but who do not comply with conditions set by their work coach, such as accepting a job offer.

The PM said 850,000 people had been signed off since the COVID pandemic - with half related to depression.

He also claimed the total being spent on benefits for people of working age with a disability or health condition had increased by almost two-thirds since the pandemic to £69bn - more than the entire budget for schools or policing.

"I will never dismiss or downplay the illnesses people have," the prime minister said. 

"But just as it would be wrong to dismiss this growing trend, so it would be wrong to merely sit back and accept it because it's too hard, too controversial, or for fear of causing offence."

But Dr Hughes said: "We are deeply disappointed that the prime minister's speech continues a trend in recent rhetoric which conjures up the image of a 'mental health culture' that has 'gone too far'. 

"This is harmful, inaccurate and contrary to the reality for people up and down the country.

"The truth is that mental health services are at breaking point following years of under investment with many people getting increasingly unwell while they wait to receive support. 

"To imply that it is easy both to be signed-off work and then to access benefits is deeply damaging.

"It is insulting to the 1.9 million people on a waiting list to get mental health support, and to the GPs whose expert judgement is being called into question."

Disability charity Scope said the measures were a "full-on assault on disabled people" and were "dangerous and risk leaving disabled people destitute".

By James Sillars , business reporter

The FTSE 100 has ended a long wait to achieve a new record high.

The index, which comprises the 100 most valuable companies on the London Stock Exchange, closed Monday's session on 8,023 points after a jump of 128 points or 1.6%.

That was the highest closing sum since February last year when the 8,000 barrier was breached for the first time in its history.

The previous record stood at 8,012.

The performance today was driven by a strong showing for companies across the board, particularly financial and consumer-linked stocks such as those for retailers.

The index has been gaining ground in recent weeks on growing hopes for a cut in UK interest rates as inflation eases - with strong evidence that the economy has turned a corner after the recession during the second half of last year.

Analysts credited the push for a new high on two main factors; confidence that a major escalation in the Middle East conflict will be avoided and a weakening in the value of the pound against the US dollar.

Sterling is trading at five-month lows against the greenback at just $1.23 and was half a cent down on the day.

This is a consequence of dollar strength as opposed to pound weakness as expectations are growing across the Atlantic that the Federal Reserve's expected interest rate cuts are further down the track than had been predicted.

Higher interest rates tend to be supportive of a currency which, in this case, is the world's reserve currency.

A weaker pound helps FTSE 100 constituent companies which make money in the United States.

That is because it boosts their bottom line when those dollar earnings are booked back in the UK and converted back to pounds.

Read the rest of our report here .

The typical price of a property coming on the market across Britain increased by £4,207 month-on-month in April, according to Rightmove. 

The property website said a jump in new sellers and the sales of bigger family-sized homes are a key factor behind the growth. 

It means the average price tag for a home is only £570 short of the record-high reached in May 2023. 

The average new seller asking price across Britain is now £372,324.

This month, the average asking price for a "top of the ladder" home is £682,661, up by more than £18,000 from £664,422 in March. 

The first four months of 2024 have been an improvement on last year, the website said, with the market witnessing boosts in both buyer and seller activity this spring.

First-time buyers are facing the most expensive conditions for more than 70 years, according to a report by the Building Societies Association.

The report said taking the first step on the property ladder is increasingly dependent on help from relatives and the need to have two incomes that are higher than the average. 

Written by housing market analyst Neal Hudson, the report calls on the government to commission an independent review with the aim of providing solutions that increase the number of true non-returner first-time buyers, both now and in the future.

Mr Hudson also says building societies need more flexibility to help them to support more first-time buyers.

Tesla - owned by billionaire Elon Musk - has cut the price of some of its electric car models after reporting a fall in sales.

The revamped Model 3 car fell by 14,000 yuan (£1,500) in China, putting the price tag at just under £26,000 for the car that upgrades the interior and exterior styling of the original 2017 model. 

It comes as Tesla grapples with competition from China, the world's largest automobile market, which is rolling out cheaper electric car models.

"Tesla prices must change frequently in order to match production with demand," Musk posted on X this weekend.

There have also been price cuts in Europe, the Middle East and Africa, a Tesla spokesperson said. 

In Germany, the price of the Model 3 rear-wheel-drive is now showing as €40,990 (£35,357), down from €42,990 (£37,000), where the price had been since February.

It follows cuts in the US of the Model Y, Model X, Model S and the full self-driving driver assistant software.

Earlier, this month, the company reported a decline in its global quarterly deliveries for the first time in nearly four years. 

Musk also announced that more than 10% of the company's global workforce will be laid off as it braces for its first annual drop in deliveries.

A council that oversees many popular tourist towns on the Kent coast has said it is considering implementing a tourism tax as a way of maximising income from visitors.  

A new report by Thanet District Council - which includes the towns of Margate, Broadstairs and Ramsgate - highlights the negative impact of tourism in the area and puts forward a number of recommendations to help with this.

One of those recommendations is levying what it calls a "modest tourism tax" on those staying overnight.

The report also proposes levying additional council tax on second homes that may be being rented out as short-term holiday lets.

Justifying the recommendations, the report says: "We want a booming visitor economy but we are acutely aware of the additional costs visitors bring, so we need to make every effort to secure income for the council to set against those costs."

Conservative district councillor John Davis welcomed the proposed changes during a meeting of the overview and scrutiny panel on 16 April.

"It's an important initiative," he said.

"I would like to welcome costs on Airbnbs and the like, because in Ramsgate we have 866 homes for short-term let and 21 flats.

"This is absolutely obscene."

Thanet has seen the biggest growth of tourism enterprises over the last five years.

According to 2024 analysis by Kent County Council , 4.4% of these enterprises are accommodation for visitors.

Train drivers who are members of the Aslef union at 16 companies have announced fresh strike dates as part of their long-running dispute over pay.

Drivers at different companies will walk out on various dates between 7 May and 9 May.

They will also refuse to work non-contractual overtime from 6 May to 11 May.

Read the full story here ...

NatWest, Barclays, Accord, Leeds Building Society and HSBC have all announced rate increases today - amid concern interest rates may not fall as much as expected this year.

Swap rates - which dictate how much it costs lenders to lend - have increased in the past week after US inflation came in higher than expected. Economists are divided about what this means for UK interest rates - with some pointing out that the UK economy is struggling far more, and therefore cuts are still imminent.

The London Stock Exchange Group is still pricing in a June cut and two further cuts before the end of the year. Analysts at Morgan Stanley, Goldman Sachs Group, Capital Economics and Bloomberg Economics all concur.

However, some economists have suggested we may have to wait until November for a first cut from the 16-year high of 5.25%.

Lenders, it seems, are growing more cautious.

Responding to today's hikes, Elliott Culley, director at Switch Mortgage Finance, told Newspage: "The rate rollercoaster rolls on. 

"Just when the market appears to be picking up some momentum, there is a sharp change of direction. 

"We are now seeing the spike in swap rates last week filtering through to the public as lenders raise their rates in response. 

"The volatility we are experiencing currently really amplifies how important it is to secure a rate as soon as possible, as this could save you hundreds of pounds, especially for existing homeowners."

Simon Bridgland, broker/director at Release Freedom, added: "This morning, I have been calling clients who have been sitting on the fence urging them to proceed as this increase is potentially going to be with us for several months. 

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Asda profits near £1.1bn as Britain's third-biggest supermarket pledges to keep slashing its debts

• Britain's third biggest supermarket's profits soared by 24% to almost £1.1bn
• The figure reflected a 7.1% rise in total sales, excluding fuel, to £21.9bn
• Finance chief Michael Gleeson says Asda will keep cutting debts this year  

By This Is Money

Updated: 07:12 EDT, 22 April 2024

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Asda profits soared by 24 per cent last year, thanks to rising food and clothing sales and a boost from the six million customers now using its loyalty card app.

Britain's third-biggest supermarket group, which is owned by brothers Zuber and Mohsin Issa and TDR Capital, posted adjusted earnings before nasties and after rent of just under £1.1billion on total sales, excluding fuel, of £21.9billion. 

Asda also slashed the hefty debt pile amassed during the £6.8billion 2020 takeover from US retail giant Walmart, which retains a 10 per cent stake in the business.

Net debt at the end of 2023 was £3.8billion, net of more than £1billion of cash on the balance sheet.

Finance chief Michael Gleeson said on Monday that Asda would continue to cut its debts this year. It paid interest costs of £225million in 2023, up from £185million in 2022.  

The food retailer Asda reported a 24% rise in profits in 2023

'We're not going to guide on a specific number but we have said that we expect further deleverage,' Gleeson added.

More than 90 per cent of this debt is secured on fixed rates of interest, according to Asda, with the group 'fully committed to further deleveraging'.

Asda, which runs fashion retailer George, saw clothing sales tick 3.4 per cent higher year-on-year to £1.5 billion. Total like-for-like sales rose 5.4 per cent.

Mohsin Issa, Asda's co-owner, said: 'We are committed to doing the right thing for customers, colleagues and local communities – and are putting in place the strategic building blocks to set up Asda for long-term success.

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'As well as investing in price to maintain our position as the cheapest traditional supermarket, we continued to invest in further enhancing the quality of our products, building on the earlier successful launch of the budget-friendly Just Essentials brand with a significant own-label transformation programme.'

Zuber Issa is said to be close to offloading his 22.5 per cent holding , which would give TDR majority control of the company.

Despite Asda's improved performance, data from market researcher Kantar shows the group is consistently underperforming its bigger rivals Tesco and Sainsbury's.

Kantar's most recent data, published last month, shows Asda has a 13.8 per cent share of Britain's grocery market, down 50 basis points on the year.

Tesco profits jumped 11 per cent last year to almost £2.8billion, thanks to easing grocery sector inflation and consumer confidence improved .

Elswhere, Asda said it was 'on track' to open 500 of its Express stores by the end of this year.

The firm, which only had three Asda Express stores at the end of September 2023, is now up to 479 stores.  

The food retailer is aiming 'to reach the landmark of 1,000 UK sites for the first time in its 59-year history'. 

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