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Evening Standard

Business

Oscar Williams-Grut and Mark Banham

Tesco warns cost of living crisis could knock £400 million off profits

Tesco
(Picture: PA Wire)

Tesco sent a chill through the City today after warning that the cost of living crisis could knock hundreds of millions of pounds off profits this year.

Britain’s biggest supermarket this morning unveiled a £1 billion rise in earnings for the year just gone, as sales accelerated and Covid-19 costs receded.

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