Tesco expects profit over £1bn

Tesco will turn the screw on its rivals today by revealing it made profits of more than £1bn (€1.47bn) in just six months of business.

City analysts expect a figure of £1.13 bn (€1.67bn) for the half year, an increase of 10.7% on a year earlier after sales lifted 12% to £18.4bn (€27.2bn).