The group, the world's largest retailer, saw worldwide sales in the six months to 31 July reach $74bn (pounds 47bn). Net income in the six months was $2.36bn (pounds 1.47bn), a record high and up 27 per cent on the previous year.
Wal-Mart surprised the London stock market in June by announcing an agreed pounds 6.7bn takeover of Asda, which owns 229 stores in the UK.
The deal trumped a rival bid for the Asda supermarkets by Woolworth-to- Comet retail group Kingfisher. David Glass, president and chief executive of Wal-Mart, said yesterday: "With the help of our devoted customers, dedicated associates [staff] and loyal shareholders, I am confident this will be another year of record results. We also completed the Asda acquisition this quarter and I am excited to welcome our new associates in the UK to the Wal-Mart family."
The takeover by Wal-Mart means 50,000 Asda staff with share options are getting the chance to transfer those options to Wal-Mart stock.
Earlier this week Asda, unveiled the latest step in its price cutting campaign by announcing pounds 30m worth of price cuts at its stores.Reuse content