Tesco’s finance boss Laurie McIlwee is reportedly due to leave the business as soon as next week, with profits expected to fall again.

Tesco is expected to announce another sharp decline in profits next week when it reports its 2013-14 results on April 16, the Financial Times reported, and the pressure is mounting on the grocer to improve its performance in the UK and Europe.

McIlwee is also reported to have disagreed with chief executive Philip Clarke over some areas of strategy.

McIlwee attracted negative attention from investors in October when Tesco surprised the markets with a fall in profits in its central European operations, which the finance chief had not flagged.