Tesco logs £40m annual net loss on accounting scandal
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[LONDON] Supermarket giant Tesco revealed Wednesday that it fell into an annual net loss of £40 million (S$70 million) due to a costly accounting scandal at Britain's biggest retailer.
The 2016/2017 after-tax loss, skewed by an exceptional charge of £235 million in costs arising from the scandal, contrasted with a net profit of £138 million in the previous financial year, Tesco said in a statement.
AFP
Share with us your feedback on BT's products and services
TRENDING NOW
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
Aiming at China, Malaysia puts new restrictions on electric cars
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Temasek CEO Dilhan Pillay to chair Vertex as FY2025 profit tops US$100 million
