Tescos Czech unit reports 10% fall in FY 2011/12 profit.

By bne IntelliNews September 21, 2012
The Czech unit of UK's retail chain Tesco reported a 10% annual fall in its profit to CZK 204mn (EUR 8.2mn) in the fiscal year to February 2012, CTK newswire reported citing the company's annual report. A year earlier the company managed to quadruple its earnings to CZK 227mn. Tesco sales, however, were CZK 3bn higher on the year at CZK 45bn in FY 2011/12. Tesco, which entered the Czech market in 1996, now operates 216 stores, 19 filling stations and seven commercial centres in the country employing 13,288. Last year it opened 24 new stores.

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