UK retailing giant Tesco has revealed that its intensive operations in Hungary last year gathered revenues of HUF150bn, representing an enormous 86% increase on the previous year.
Go deeper with GlobalData
After investing HUF100bn in the country, Budapest is now home to the two largest Tesco stores in the world. Company officials explained that these giant hypermarkets allowed Tesco to fully capitalise on the holiday season shopping at the end of the year.
The company also said that it has plans for further investments in Hungary over the next three years. HUF35-40bn will be spent in 2001 alone, in order to embark on a further seven hypermarkets.
