Tesco profits obscene
30 September 2008
Ulster MEP Jim Allister has denounced as “obscene” Tesco’s half yearly profit announcement of £1.43bn in the 26 weeks to 23rd August 2008.
The MEP commented
“At a time when consumers have seen food prices rising on supermarket shelves, and farmers struggling to cope with increased production costs, today’s profit announcement will be sickening to many. Indeed, half yearly profits have soared by 11.3% on the same period last year.”
“While Tesco’s Sir Terry Leahy has a salary of £5.5 million for 2007/08, the average Net Farm income of Northern Ireland’s Cattle and sheep farms predicts a £231 loss for the year. Tesco’s record breaking profits are coming at too great a cost, and that is why I reiterate my calls for proper scrutiny of the supermarket giants”.
ENDS
