Tesco announces £1.4bn half-year profits

Supermarket giant Tesco today said it made £1.4bn (€1.52bn) 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 £1bn (€1.08bn) a week at £30.4bn (€32.9bn). Like-for-like sales rose 2.7% in the UK – slower than the growth achieved by its rivals.