Tesco has announced its interim results for the first half of its financial year (26 weeks ending 29 August 2015) which show group operating profit of £354m, a fall of almost 55% compared to the same period last year.
Tesco has announced its interim results for the first half of its financial year (26 weeks ending 29 August 2015) which show group operating profit of £354m, a fall of almost 55% compared to the same period last year.
Pre-tax profits were £74m, while like-for-like sales in the UK fell by 1.1%.
Chief executive Dave Lewis said: 'We have delivered an unprecedented level of change in our business over the last twelve months and it is working. The first half results show sustained improvement across a broad range of key indicators.”
“In the UK, we continue to improve all aspects of our offer for customers, resulting in volume growth which is allowing us to create a virtuous circle of investment,” he added.