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Evening Standard
Evening Standard
Business
Simon English

Tesco profits halve as customers cut costs

The Cost of Living crisis has hit mighty Tesco as profits halve from £2bn to £1bn for the year.

Ken Murphy, Chief Executive, warned: "It’s been an incredibly tough year for many of our customers, and we have been determined to do everything we can to help.  Our results reflect our continued investment in delivering great value and quality for our customers, whilst at the same time looking after our colleagues.”

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