Tesco Profits Slump October 24, 2014 12:00 am Tesco has stunned investors after announcing pre-tax profits of just £112m for the first half of 2014. Like for like sales were down by 4.6% to £23.6bn and UK trading profits fell by 56% to £499m. Retail analysts have suggested that the company will ask suppliers to deliver more on price as they try to compete with other supermarkets. Tesco’s chairman, Sir Richard Broadbend has since resigned from his post.
