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Inflation bites into profits of UK supermarket Tesco
Inflation bites into profits of UK supermarket Tesco
Business and Economy
by  AFP

Britain's biggest retailer, supermarket group Tesco, reported Thursday a halving of annual net profit as soaring inflation hiked costs and reduced the amount of goods sold. - 'Painful grocery inflation' - "Tesco has seen profits take a knock as inflation means struggling customers are picking up fewer items while prices soar," noted Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.