Tesco to cash in on property as profits soar - Scotsman.com Business
TESCO'S new chief executive, Philip Clarke, is this week expected to announce plans to cash in on the group's rich property assets as he unveils another year of record profits.
The world's third-biggest retailer, which will announce profits of around £3.8 billion on Tuesday, is seeking to weather a worsening outlook for the UK retail sector.
It is nearing the end of a five-year plan to raise at least £5bn from property
ADVERTISEMENTdeals, raising speculation it may announce a drive to extract value from its £35bn of freehold property, possibly including overseas assets for the first time.
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