Tesco Posts Drop In H1 Profit
Tesco PLC (OTC: TSCDY) reported a decline in its first-half net profit.
Tesco's UK comparable sales, excluding fuel, dropped 0.7% in the six months to August 25.
Tesco's net profit for the period fell to 1.28 billion pounds ($2.06 billion), from GBP1.38 billion, in the year-ago period. Its revenue rose 1.6% to GBP32.31 billion.
Tesco shares closed at $16.22 yesterday.
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