Vladimír Urbánek (Kurzy.cz)
World markets  |  October 03, 2012 10:04:51

Tesco saw its first drop in profits in the last 20 years, the main competitors are better


Britain's biggest retailer Tesco during the last fiscal half-year, which ended in August this year declined indicators of business profits, which in itself does not include the impact of changes in property values ??by 11% to 1,59 mld.GBP. The decrease in this indicator company recorded for the first time in 20 years. The market had expected a milder drop to 1.62 mld.GBP. As the main reason for the drop indicator string indicates growth of investment in an effort to halt the decline in sales in its supermarkets and consolidate its position as market leader. The company spent about 1 mld.GBP into new products.
In the last quarter sales stores open at least 12 months, excluding fuel sales grew by 0.1%, which was the first increase on this basis from 3Q11.

Tesco decided to keep biannual dividend to 4.63 pence. For the first time in this millennium, there was no increase in pay.

Shares of Tesco responded to the report of a decrease of about 2%. Since the beginning of the end of yesterday's title then lost 18%.

The main competitor Tesco Sainsbury's is a chain. He announced today that its sales in the UK in 2Q accelerated by 1.9%
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Tesco zaznamenalo první pokles zisku v posledních 20 letech, hlavnímu konkurentu se daří lépe

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