Tesco Chief Exec Dave Lewis (from pool clip interview)
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Tesco CEO: 'Full and frank inquiry' into profit overstatement

Tesco has suspended four executives, including its UK managing director, after the supermarket overstated its half-year profit guidance by £250m.

The amount equates to almost a quarter of its expected profit for the period.

Speaking on Monday, Chief Executive Dave Lewis said the company had launched a "full and frank investigation" headed by Deloitte, and said it is now working to establish the impact of the issue on its full-year results.

He said he would not speculate on the cause of what happened, but said that to describe his feelings as disappointed "would be an understatement".

Go to next video: Tesco boss Dave Lewis: Full interview