Tescos, in the throes of a huge restructuring programme, are still disappointing economists with poor half year results to the end of August. Profit figures for the period were 55% lower than the same period last year at £354 million versus £779 million.

Top man Dave Lewis, is confident that the turnaround is on track but they are still facing stiff competition from the discounter stores of Lidl and Aldi, who are opening stores, while Tesco is closing those that cannot make a significant contribution to the bottom line.

In the background, they still have the Serious Fraud Office (SFO) investigating a hole in their previously stated profit figures of £326 million, a skeleton very much out of the cupboard, which appears close to being resolved and is already factored into the share price, which did drop 1 % on the announcement of the half year figures.