Tesco first-half profit more than halves

October 7, 2015 6:20 AM

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Tesco first-half profit more than halves

LONDON Britain's biggest supermarket Tesco TSCO.L on Wednesday posted a 55 percent slump in first-half profit, showing the scale of the financial damage wrought by discount groups and raising questions over boss Dave Lewis' turnaround plan.

In line with recent market data, Tesco showed a steady improvement in trading in its home business and it reiterated its full-year outlook, however it said the market remained challenging and it stood ready to invest more if needed.

Also read: GE Cuts Full-Year Sales Forecast

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