Supermarket giant Tesco unveiled a 12.5% rise in half-year profits to £1.6 billion today.
The firm said UK like-for-like sales excluding petrol rose 1.3% in the second quarter, compared with 1.1% in the first quarter - but, adjusting for VAT sales, the figure was just 0.3% higher over the half-year.
Mr McIlwee said Tesco Bank was now a "significant" part of the group's business, with revenues of £474 million in the first half, with trading profits up 12.2% to £129 million
FBC is trading at $2.62 up by 11.59% from it last closing price of $2.33.
The stock has a market capitalization of $401.8 million.
It has ranged from $1.73 to $12.20 during last 52 weeks and has touched its highest point in November, 2009.
The stock also provides good upside potential to its investors as its fair value is $4.58.
CNR Announces Groundbreaking Ceremony in Dezhou, Shandong
China Metro-Rural Holdings Limited ( CNR 2.65 , +0.00, +0.04%) entered into a framework agreement with Dezhou Municipal Government of the PRC ("Dezhou Government“)
To develop a logistics platform in Dezhou ("Dezhou Project").
The Company has been invited to attend their groundbreaking ceremony on 8th October 2010 (the "Groundbreaking Ceremony“ -a traditional Chinese ceremony that signifies the commencement of a project ).
India-EU trade pact may nullify UK migration cap
BRITAIN’S efforts to limit migration of professionals from outside the European Union is likely to be neutralised by an India-EU trade agreement that may allow Indian professionals to bypass British immigration laws and take up work in UK. The India-EU free trade agreement is expected to be signed in December.
The report said: “India has insisted on increased mobility for its skilled workers in return for reduced tariffs on European products and the lifting of some restrictions on businesses bidding for public procurement contracts”.