Tesco has forecast lower profit this year than last amid a mounting price war among the UK’s major supermarkets. The grocery giant said it expects to see adjusted operating profit of between £2.7 billion and £3.0 billion, compared with £3.1 billion in the most recent financial year. It said on Thursday: “In the last few months, we have seen a further increase in the competitive intensity of the UK market.." #tesco
