Tesco’s profit has shrunk

Tesco had a net profit of 2.81 billion pounds, last year, this year it is 124 million pounds.

The large decrease can be explained by the 804 million pounds devaluation of property assets in the UK and the 1.2 billion pounds losses of the suspended “Fresh & Easy” chain. In addition, a further 495 million pounds of goodwill loss came from Poland, the Czech Republic and Turkey. (portfolio.hu)