Tesco reveals £1.4 billion profits

Oct 6 2009

Supermarket giant Tesco said it made £1.4 billion in profits for the first half of its financial year.

The group, which saw pre-tax profits rise 1.5% in the six months to August 29, generated total sales of more than £1 billion a week at £30.4 billion.

Like-for-like sales rose 2.7% in the UK - slower than the growth achieved by its rivals.

However, the firm said recent moves to enhance its Clubcard customer reward strategy were paying off, adding it had seen a "significant improvement" in its performance compared with its competitors.

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