Underlying profits for the first half of its financial year were
£354m, 55% down on the same period last year, when it made £779m.
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| TESCO |
Its pre-tax profit was £74m, compared with a loss of £19m for the same period a year ago.
Like-for-like sales were down 1.1% for the UK and the Republic of Ireland.
The group warned price deflation was still having a detrimental effect.
Chief
executive Dave Lewis said in a BBC interview he was "quietly confident"
about Tesco's turnaround, admitting the group hit a low point at the
end of last year.
