Tesco is back in the black in the Czech Republic. The company reported CZK 3.3bn in profits in its annual report for the 2015/16 fiscal year, ending in February 2016. Margins rose 4.4 percent, reaching CZK 43.6bn. The revaluation of long-term assets helped boost results. The third strongest retail chain in the Czech Republic reported a CZK 4bn loss the previous two fiscal years, but these included extraordinary depreciation. William Patrick O’Neill has headed Tesco in the CE region since last year. Stores in the Czech Republic, Slovakia, Hungary and Poland are managed from Prague.
