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Tesco profits overstated by £263 million

Tesco has announced it had overstated its profits for the first half of the year by £263m, slightly higher than the £250m originally estimated when the company was hit by an accounting scandal.

Chairman Sir Richard Broadbent has confirmed he is stepping down from his role.

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Tesco CEO: Shoppers can expect positive surprises

The new chief executive of Tesco has said shoppers can expect "positive surprises" as he gets the supermarket back "to what made this business great".

Dave Lewis told ITV News Economic Editor Richard Edgar that the accounting scandal that has enguled Tesco was "not at all what I envisaged when I took the job".

But he stressed that the company's 320,000 staff had continued to do a "stunning job" throughout the recent difficulties.

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