UK supermarket giant Asda has announced that it generated profit before tax of £520.4m (€582.3m) during 2008, down from the £532.7m (€596.1m) reported for the previous 12 months.
Accounts filed at the UK's Companies House also revealed that the retailer had seen turnover growth last year, up to £18.57bn (€20.8bn) from £16.7bn (€18.7bn) in 2007.
However, Asda has denied claims in UK publication the Daily Telegraph that it has been sold to investment group Corinth Services Limited for £6.9bn (€7.7bn).
'This is incorrect – Asda has not been sold to anyone and we are still proudly owned by Wal-Mart,' an Asda spokesperson told Fruitnet.com.
'As a private company we have to file accounts and we did this for 2008 last week. In those accounts is a reference to a technical change in our structure – it is this which the Telegraph has misinterpreted. We have not been sold to anyone.'
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