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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/tesco-reveals-strong-sales-in-asia.jpg"><img class="alignnone size-full" title="Tesco has revealed strong sales growth in Asian markets" src="http://londonglossy.com/wp-content/uploads/2010/11/min-tesco-reveals-strong-sales-in-asia.jpg" alt="Tesco has revealed strong sales growth in Asian markets"/></a></p>
<p>Supermarket Tesco has revealed strong sales growth in South Korea, China and India as the chain continues its expansion in overseas markets.</p>
<p>The Cheshunt-based group now generates 31% of sales and 22% of profits from international operations, compared with 10% and 5% respectively 10 years ago.</p>
<p>In South Korea, which is Tesco&#8217;s biggest market outside the UK, like-for-like sales growth in the nine weeks to October 31 accelerated to 6.7%, compared with 6% in the previous quarter and 0.6% in the period prior to that.</p>
<p>Sales from stores open more than year in China were up 8.3% in the nine weeks after rising 9.3% in the previous quarter.</p>
<p>Tesco disclosed the latest trading figures on the first day of a three-day visit to Asia it is hosting for retail analysts.</p>
<p>In a presentation led by Asia and Europe director Philip Clarke, who will replace Sir Terry Leahy as chief executive in March, Tesco described its international arm as an &#8220;increasingly important engine for growth&#8221;.</p>
<p>The company said it stood to benefit from the region&#8217;s economic recovery in the short term and from the maturity of its assets over the long term.</p>
<p>Like-for-like sales in Asia and Europe dipped 6.7% at the height of the global recession but rallied 1.8% in the first half of this financial year as Tesco offsets challenging trading conditions in its UK market.</p>
<p>Tesco&#8217;s Korean venture, which trades as Homeplus, has grown in the space of 11 years from two stores to a business with annual sales of £4.5 billion and profits of £287 million. It is the second largest retailer in the country behind E-Mart and currently has 118 hypermarkets and 245 superstores.</p>
<p>Meanwhile, at Tesco&#8217;s 10-store operation in India, which is branded as Star Bazaar in a joint venture with franchise partner Trent, like-for-like sales rose 18.3% in the nine weeks to October 31.</p>
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