Tesco expects flat profits amid soaring inflation pressures
Tesco has posted a fall in profit for the full financial year and forecasts flat profits in FY 23/24 as a result of “unprecedented levels of inflation”.
The UK supermarket giant posted a fall in adjusted retail operating profit of 6.1% to £2.49bn in the year to February, versus the £2.65bn it made in 21/22, as it shielded shoppers from rising inflation.
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