Tesco profits increased below expectations

The British Tesco retail chain has reached 35.5 billion pounds turnover in the first half of the 2011-2012 fiscal year ended on August 27, which indicates a 8.8 percent increase.

Profits increased by 3.7 percent and reached 1.77 billion pounds. Nevertheless, the METRO Group's British rival's results are below the expectations of analysts, because they calculated with an average profit of 1.83 billion pounds. The profit margin was 5.51 percent, slightly below the ratio of the same period of last year – reports Világgazdaság Online, after DPA.