Tesco's sales grew in 2011, profits fell slightly

According to the report of Tesco Global Stores, published at the end of July the chain had a slight decrease in profit in 2011.

Last year Tesco’s profit was only nearly 200 million HUF lower than in 2010. Beside the decline in profit, they cut back on expansion and upgrades. In 2011 they opened only 7 stores, in a total value of 1.149 billion HUF, compared to the 29 new store openings of 2010.
Tesco's sales last year was 5 percent higher (612.7 billion HUF) than the 583.6 billion HUF of 2010. (Székely Sarolta, mfor.hu)