The Tesco Group, today announced its results for the first half of the 2015/16 business year

• Turnover increased in all European markets, compared to the same period of the previous year, because the customers appreciated the investments involving the fresh products area.

Underlying profits for the first half of its financial year were 354 million pounds, 55 percent down on the same period last year, when it made 779 million pounds.

• The creation of Tesco Europe has accelerated the pace of growth and reduced operating costs.
• The first half-year turnover at international markets outside the UK increased, compared to the same period of the previous year for the first time in nearly three years.
• The Tesco Group’s turnover declined by an overall 0.3 percent, calculated at constant exchange rates.

The video message of Dave Lewis, Tesco Group’s Chief Executive is available at the following link:

Further details regarding the Tesco Group’s half-year results are available at the following link: http://www.tescoplc.com/index.asp?pageid=164