Tesco issues warning over profits

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Published: Tuesday 9th December 2014 by The News Editor

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Struggling supermarket giant Tesco capped a disastrous year today by warning that profits will be significantly short of expectations.

The company said trading profits for the year to February will not exceed £1.4 billion, compared with City forecasts for a figure of more than £2 billion.

New chief executive Dave Lewis said the latest warning reflected the impact of steps being taken to overhaul the group in the wake of an accounting scandal revealed in September.

Published: Tuesday 9th December 2014 by The News Editor

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