UK’s Tesco considers Asia exit, with possible sale of Malaysia, Thailand businesses | Malay Mail

UK’s Tesco considers Asia exit, with possible sale of Malaysia, Thailand businesses

Monday, 09 Dec 2019 08:55 AM MYT

LONDON, Dec 9 — Britain’s biggest retailer, Tesco, has signalled a further retreat from its once lofty global ambitions by starting a review of its remaining Asian businesses, which could result in a sale of those Thai and Malaysian operations. Tesco trades from 1,967 stores in Thailand and 74 in Malaysia. In the six months to August 24 the businesses together generated sales of £2.6 billion , up 1 per cent at constant exchange rates, and operating profit of £171 million, up 42.3 per cent.

But under Lewis the focus of investment has been the UK, spending nearly £4 billion on the acquisition of wholesaler Booker last year.

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