More than 49,000 Tesco staff are set to receive a share of a £111m payout as part of the retailer's Save As You Earn share schemes.

The windfall is part of two Tesco saving schemes, with top savers expected to receive at least £5,000 each.

Sir Terry Leahy, chief executive of Tesco, said: "I am delighted that so many staff choose to do this and so share in the success that they help to achieve through all their hard work."