Supermarket Tesco announces drop in profits
The UK's biggest supermarket chain, Tesco, has reported a 23.5% drop in profits during the first half of its financial year.
Tesco's pre-tax profits in the six months to 24 August were £1.39bn, which the firm blamed on a challenging retail environment, particularly in Europe.
Meanwhile rival Sainsbury's reported a 2% rise in like-for-like sales during the second quarter of its financial year.
Emma Simpson reports.
02 Oct 2013
- From the section Business