Preliminary Results 2011/12
18 April 2012
- Group sales up 7.4% to £72.0bn*, up 5.9% exc. petrol
- Statutory profit before tax up 5.3% to £3.8bn; Underlying profit before tax up 1.6% to £3.9bn
- Group trading profit up 1.3% to £3.8bn – UK down (1.0)% to £2.5bn; International up 17.7% to £1.1bn
- Underlying diluted EPS growth of 2.1%**; dividend per share growth of 2.1%
- Results in line with latest market consensus***
- Increase in return on capital employed to 13.3%; 2014/15 14.6% target maintained
- Financial strategy to put increased focus on delivering sustainable business growth, improving returns and higher level of cash generation
- Reducing Group capital expenditure from £3.8bn in 2011/12 to £3.3bn in 2012/13
- * Group sales (inc. VAT) exclude the accounting impact of IFRIC 13.
- ** Underlying diluted EPS growth calculated on a constant tax rate basis; 3.2% at actual tax rates.
- *** Source: Vuma consensus estimates, published February 2012.
CEO Philip Clarke sets out Tesco's long-term strategic ambition: to lead in reducing food waste globally: http://t.co/jygsHfm1u8
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