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Tesco profit warning sees shares hit 11-year low

Tesco has issued another profits warning, amid concerns about its performance.

Shares in Tesco have hit an 11-year low after the firm cut its full-year profit forecast to £2.4bn from £2.8bn.

The supermarket has cut its dividend to shareholders by 75% saying that market conditions remained "challenging".

The start date for the new chief executive Dave Lewis has been brought forward to Monday.

Emma Simpson reports.

  • 29 Aug 2014
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