British Supermarket Giant Tesco Returns to Profit
Supermarket group Tesco, Britain's biggest retailer, said Wednesday it returned to profit in its first half as it kept a lid on food price inflation.
Net profit came in at £637 million ($846 million, 719 million euros) in the six months to late August, Tesco said in a statement.
That compared with a loss after tax of £91 million in the first half of its 2015/16 financial year.
"We are continuing to make strong progress," chief executive Dave Lewis said of the turnaround, as the group also announced it would resume dividend payments to shareholders.
Source: Agence France Presse
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