TESCO IN­COME DOWN 3.9% DE­SPITE FES­TIVE SALES RISE

The Herald Business - - Month In Headlines -

Jan 11 ED­IN­BURGH-based Tesco Bank has blamed a 3.9% fall in in­come on the run-off of legacy in­surance busi­ness as the core UK su­per­mar­ket busi­ness showed signs of re­cov­ery by post­ing a rise in Christ­mas sales. Mean­while, Tesco Bank chief ex­ec­u­tive Benny Hig­gins has been ap­pointed to the group’s ex­ec­u­tive com­mit­tee amid a man­age­ment shake-up. This has seen group chief ex­ec­u­tive Philip Clarke step back from its UK busi­ness and chief op­er­at­ing of­fi­cer Chris Bush be­come Tesco’s UK man­ag­ing di­rec­tor.

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