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Tesco's Sales, Profits Take A Tumble In Six Months To August 2014

October 23, 2014: 12:00 AM EST
Tesco said group sales declined 4.4 percent to ₤34.0 billion for the six-month period ending August 23, 2014. At constant exchange rates, sales dropped 2.0 percent, with petrol, and 1.9 percent, excluding petrol. According to the company, group trading profit fell 41 percent to ₤937 million, compared with the same period in the previous year. Group trading margin was 3.04 percent, 189 points lower year-on-year, the company said.  Underlying profit before tax also dropped 46.6 percent to ₤783 million, while group profit before tax was ₤112 million.
"TESCO INTERIM RESULTS 2014/15", Tesco, October 23, 2014, © Tesco plc
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