Restructuring costs in Central Europe affected Tesco’s results

The pre-tax profit of Tesco, the largest UK retail network, declined in the financial year 2019-2020, which ended in February. In its report on Wednesday, the company said that the restructuring costs of its Central European division affected performance, and the coronavirus epidemic will also incur significant additional costs.

According to a 122-page preliminary report published on the London Stock Exchange, group sales increased by 0.7 percent from 56.88 billion pounds in 2018-2019 to 56.52 billion pounds (23 trillion HUF), and pre-tax profit by 18.7 percent 1.32 billion pounds. (Kertész Róbert, MTI)