Tesco profits halve as inflation hits business

Despite the cost-of-living crisis, revenues rose by 7.2% to £66m and retail like-for-like sales rose by 5.1%

Tesco has seen its full-year profits plunge by 50.8% to £1bn, down from £2.03bn the prior year, as inflation took its toll on the supermarket’s business throughout the year. 

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