UK Profits Up Despite Sales Down At Tesco

Posted by Nogger - a legend in his own mind at 12:15 | Categorized as

05/10/11 -- Tesco has reported a 4.5% rise in half-year profits in the UK to GBP1.3 billion despite a 0.5% fall in sales here. How did they manage that? Discuss.

UK conditions are "challenging" (we've got you sussed) they said but highlighted "excellent growth" (they haven't got you sussed yet) in Europe and Asia generating Group sales up 8.8% year-on-year and profits up 12.1%.