Tesco Expected To Continue Operations In Hungary

  • 8 Oct 2015 2:40 AM
Tesco Expected To Continue Operations In Hungary
Supermarket chain Tesco has concluded its portfolio reshaping and it can be expected that Tesco will continue its operations in central Europe. Earlier in September press reports speculated that Tesco could pull out of Slovakia, the Czech Republic, Hungary and Poland in the coming months.

According to the interim report Tesco will focus on increasing the level of cash generated from their retained assets.

Tesco Interim Results 2015/16:

* Like-for-like sales grew in all European markets as customers responded well to investments in fresh food

* Creation of single business unit has accelerated growth and reduced operating expenses.

* Total like-for-like sales outside the UK (International) increased in the first half for the first time in nearly three years.

Commenting on the Half Year performance, David Morris, CEO of Tesco Central Europe said:

“All credit for the strong performance in the first half of the year goes to our colleagues, partners and suppliers and I would like to thank them for their hard work.

We’re focusing all our energy on serving shoppers in Central Europe a little better every day. The work we have done to create a single business unit across Central Europe is freeing up time, money and energy which we are able re-invest in improving our customer offer”

Source: Tesco plc and www.hungarymatters.hu
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More detail can be found in the Tesco plc press release at

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