(BFW) Tesco Says Overstated 1H Profit by GBP250m


BN 09/22 06:06 *TESCO TO PROVIDE INTERIM RESULTS ON OCT 23
BN 09/22 06:05 *TESCO CEO WILL TAKE DECISIVE ACTION AS PROBE RESULTS DELIVERED
BN 09/22 06:04 *TESCO CEO: WE EXPECT TO OPERATE W/ INTEGRITY AND TRANSPARENCY
BN 09/22 06:04 *TESCO CEO SAYS `RESPONDED ACCORDINGLY' TO `SERIOUS ISSUE'
BN 09/22 06:04 *TESCO SEES PROFIT OVERSTATEMENT BY ESTIMATED 250M PNDS
BN 09/22 06:03 *TESCO TO INVESTIGATE PROFIT OVERSTATEMENT IN INTERIM RESULTS
BN 09/22 06:02 *TESCO TO INVESTIGATE PROFIT OVERSTATEMENT IN INTERIM RESULTS
BFW 09/22 06:02 *TESCO SAYS 1H PROFIT OVERSTATED BY GBP250M
BN 09/22 06:02 *TESCO: WORK IS ONGOING TO ESTABLISH EXTENT OF THESE ISSUES
BN 09/22 06:02 *TESCO SAYS SOME IMPACT INCLUDES IN-YEAR TIMING DIFFERENCES
BN 09/22 06:02 *TESCO SAYS GUIDANCE WAS OVERSTATED FOR HALF YEAR
BN 09/22 06:01 *TESCO IDENTIFIED OVERSTATEMENT OF EXPECTED PROFIT

Tesco Says Overstated 1H Profit by GBP250m
2014-09-22 06:06:02.339 GMT


By Tim Barwell
Sept. 22 (Bloomberg) -- Tesco has asked Deloitte to
undertake an independent and comprehensive review of these
issues.
* Will provide a further update at interim results on Oct. 23
* NOTE (Aug. 29): Tesco forecast FY trading profit GBP2.4b-
GBP2.5b {NSN NB20ZM6TTDS4 <GO>}

Link to Statement:{NSN NCAGPY3HBS3K <GO>}
Link to Company News:{TSCO LN <Equity> CN <GO>}

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To contact the editor responsible for this story:
Tim Barwell at +44-20-7073-3512 or
tbarwell@bloomberg.net