Tesco shares plunge after profit warning
Tesco has warned its full-year profits will be substantially below market expectations.
The supermarket chain said its group trading profit for the full financial year "will not exceed £1.4bn", below the £1.8bn to £2.2bn range expected by markets.
The downgraded guidance follows its admission earlier this year that it had misstated its profits by £263m.
Its shares plunged 16% following the unscheduled trading update.
Emma Simpson reports.
09 Dec 2014
- From the section Business