tesco logs £40m annual net loss on accounting scandal
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Tesco logs £40m annual net loss on accounting scandal

Arab Today, arab today

Arab Today, arab today Tesco logs £40m annual net loss on accounting scandal

Supermarket giant Tesco
London - Arab Today

Supermarket giant Tesco revealed Wednesday that it fell into an annual net loss of £40 million ($50 million, 47 million euros) 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.

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