Tesco group pre-tax profits drop 23.5% to £1.39bn

Tesco's group pre-tax profits have slumped for the first half of its financial year

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.

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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%.