23:49
Tieng Anh Vui
The UK's biggest supermarket chain, Tesco, has reported a drop in profits of 23.5% in the first half of its financial year.
The firm blamed the challenging retail environment in Europe, where sales fell 67% to £55m.
Pre-tax profits in the six months to 24 August were £1.39bn, with total UK sales rising 1.5% to £1.13bn.
Chief executive Philip Clarke said the firm was making progress and was strengthening its UK business.
Tesco's results came as the firm announced a joint venture with China Resource Enterprises (CRE) ,
The UK firm will combine its Tesco China business, which includes 134 Chinese stores, with the 2,986 stores held by CRE's Vanguard business.
Tesco will have a 20% stake in the business, which it said would have sales approaching £10bn.
Đăng ký: Tieng Anh Vui
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