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Tesco reports profits decline

3 Oct 2012 12:00 AM | Anonymous

Tesco have reported a 12 percent fall in group pre-tax profits, as the supermarket giant reports the first profit drop in 15 years.

While UK sales have risen over the last three months, decline in Europe and Asia has led to a reduction in overall group profits.

Rival Sainsbury’s have reported a 1.7 percent increase in sales with expansion plans having been funded by non-food sales.

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