Radio Sandwell News

Tesco posts record 6.4bn annual loss

2015-04-22 08:36:07

Tesco

Tesco has reported the worst results in its history with a record statutory pre-tax loss of £6.4bn for the year to the end of February.

That compares with annual pre-tax profit of £2.26bn a year earlier.

It is the third year in a row in which the supermarket giant has reported falling profits.

Annual group trading profit, which counts sales through the supermarket's tills was also down 60% at £1.4bn, compared with £3.3bn a year earlier.

The results cap a tumultuous year for the supermarket giant which is still being investigated by the Serious Fraud Office (SFO) after it overstated its half-year profit forecast in August by £263m,

Source: bbc.co.uk

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