Tesco’s Czech division has finally produced its figures for its latest financial year which ended in February and they show a 3.6 percent drop in revenues to CZK 43 billion. That left it with after-tax profits of just CZK 516 million, which was a decline of CZK 2 billion from the year before. According to its spokesman Vaclav Koukolicek, the decline came from discounts it offered on certain products as well as on its private brand products. But he also claims that the previous year’s profits were unusually influenced by a rise in the value of its real estate, whereas this year, no such reevaluation took place. Tesco has around 190 stores and hypermarkets along with 18 gas stations and a network of convenience stores called Zabka.
