[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 20 February 2007, 18:08 GMT
Asda sees 'turnaround' 12 months
Asda store front
Asda was bought by Wal-Mart in 1999
Supermarket chain Asda enjoyed a "turnaround" over the last 12 months, according to its US parent Wal-Mart.

The US giant, the world's largest retailer, said that Asda "exceeded business plan sales" for the full fiscal year ending 31 January.

Although Wal-Mart does not release detailed figures for Asda, it added that profits at the UK business had "increased slightly".

Wal-Mart made the comments as it said its latest global profits were up 9.8%.

Beating market expectations, Wal-Mart's net profit for the three months until the end of January totalled $3.94bn (2bn), up from $3.6bn a year earlier.

Asda was bought by Wal-Mart in 1999.


SEE ALSO
Wal-Mart profits up on price cuts
20 Feb 07 |  Business
Asda in legal bid to stop strike
23 Jun 06 |  Business
Asda gives young staff adult pay
04 Oct 06 |  Business
Asda industrial action called off
29 Jun 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific