LONDON Aug 29 Britain's Tesco slashed
its interim dividend by 75 percent on Friday, after tough
operating conditions forced it to cut its trading profit outlook
for the year.
Tesco, which issued a profit warning in July as it announced
the departure of its chief executive, said its new head Dave
Lewis would now start on September 1, one month earlier than
expected. He will review all aspects of the business.
The group said it had revised its outlook and now expected
trading profit for 2014/15 to be in the range of 2.4 billion
pounds ($3.98 billion) to 2.5 billion pounds, compared with an
analyst forecast of around 3 billion pounds.
($1 = 0.6030 British Pounds)
(Reporting by Kate Holton; editing by Neil Maidment)