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Tesco global profits down 23.5%

Supermarket giant Tesco has reported a 23.5% drop in group pre-tax profits to £1.39 billion in the six months to August 24. Rival Sainsbury's said its sales were up 2.1%.

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Sainsbury's: 'We have delivered strong sales'

We have delivered strong sales over the quarter, continuing to outperform the market in what remains a tough retail environment.

We are the only major supermarket to be growing market share. This comes during a quarter in which we also lapped some of our strongest performance during the Paralympic Games last year.

– Sainsbury's chief executive Justin King

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