Tesco’s H1 like-for-like group sales rose 1% as the retailer recorded an increase for the third quarter in a row.
Pretax profit dropped by 28.3% on the year to £71m, while but underlying profit, which excludes one-off items, jumped 60% to £596m.
Chief executive Dave Lewis said the retailer had made significant progress on the priorities laid out two years ago. He announced a three-year plan to restore profits, which includes further cost-savings totalling £1.5bn.
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