Tesco’s Hungarian unit turns profitable
The Hungarian unit of U.K.-based retail giant Tesco had after-tax profit of HUF 13.2 billion in the financial year ending on February 29, compared to a HUF 68 bln loss in the preceding financial year, Hungarian news agency MTI reported today based on public records.
Net sales revenue was up 0.71% to HUF 614 bln. Sales grew due to an expanding product range, favorable prices attracting customers, an increase in online sales, and the development of small-scale stores, the report noted.
Income from financial operations was HUF 14.7 bln, up by HUF 6.4 bln compared to the previous year.
Bamosz Investment Fund NAV Reaches HUF 15.624 tln in March
Hungary Condemns Iranian Attack on Israel
Share of 1st Time Home Buyers Climbs
Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
