Arab Today, arab today tesco firsthalf profits drop 7
Last Updated : GMT 18:19:32
Arab Today, arab today
Arab Today, arab today

Tesco: first-half profits drop 7%

Arab Today, arab today

Arab Today, arab today Tesco: first-half profits drop 7%

London - AFP

British supermarket giant Tesco said Wednesday that net profits slid almost seven percent in the first half of the group\'s financial year, hit by tough economic conditions in Asia and Europe. Earnings after taxation slid 6.8 percent to £1.283 billion ($2.067 billion, 1.6 billion euros) in the 26 weeks to August 25, compared with the same period of the company\'s previous fiscal year, Tesco said in a results statement. Pre-tax profits meanwhile slumped 12 percent to £1.7 billion in the reporting period. \"The external environment continues to present challenges all over the world,\" said chief executive Philip Clarke. \"Whilst our businesses in Asia and Europe have continued to do a great job for customers, our financial performance there reflects the tough economic backdrop and particularly the regulatory changes in South Korea.\" Market expectations had been for net profit of £1.375 billion, according to analysts polled by Dow Jones Newswires. Overall group sales however increased by 1.4 percent to £36 billion. Profits were also hit by the cost of a £1.0-billion turnaround programme which was launched in April in a bid to transform the fortunes of its ailing domestic activities. Tesco added Wednesday that sales at British stores open for at least a year fell by 0.7 percent in the first half, excluding petrol and sales tax, compared with the same period a year earlier.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tesco firsthalf profits drop 7 Arab Today, arab today tesco firsthalf profits drop 7

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tesco firsthalf profits drop 7 Arab Today, arab today tesco firsthalf profits drop 7

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday