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Tesco revenue increases 14% in 2005

Tesco Global Stores Zrt, the Hungarian unit of UK retailer Tesco, had revenue of Ft 473 billion in 2005, 14% more than in the previous year, CEO Paul Kennedy announced on Tuesday. Kennedy declined to reveal the unit's profits.

In 2004, Tesco had revenue in Hungary of Ft 415 billion, 17% more than in 2003. Tesco opened 14 new stores in Hungary in 2005, twice as many as in 2004. Among the stores opened were two smaller, 1,000 square meter stores.
Tesco employs 17,000 people in Hungary, making it the country's sixth largest employer and the second biggest foreign-owned employer after General Electric.
In 2006, Tesco plans to open 25 new stores, including at locations it is renting from furniture company Domus under a 15-year lease.