Tesco gives more detail on supplier deals after scandal

April 22, 2015 9:07 AM

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Tesco gives more detail on supplier deals after scandal

LONDON (Reuters) - Tesco provided more information about how it accounts for relationships with suppliers on Wednesday after an accounting scandal that contributed to an annual loss of 6.4 billion pounds ($9.5 billion).

Britain's biggest retailer announced last year it had overstated profits by 263 million pounds due to booking deals with suppliers too early, prompting a criminal investigation by Britain's Serious Fraud Office.

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