Interim Results 2012/13
03 October 2012

Interview with Philip Clarke video
Chapters Chapter Times
Interim Results 201200:00
UK Six Point Plan02:01
International06:42
Clicks & Bricks09:32
Personalisation10:45
General Merchandise11:38
Tesco Bank12:26
Shareholders13:00
Message to Colleagues13:50

Financial headlines

  • Group sales up 1.4% to £36.0bn* (up 3.2% at constant rates); Group sales exc. petrol up 1.6% (up 3.7% at constant rates)
  • Statutory profit before tax down (11.6)% to £1.7bn; Underlying profit before tax down (8.5)% to £1.8bn
  • Group trading profit of £1.6bn, down (10.5)% – UK down (12.4)% to £1.1bn; International down (17.1)% to £0.4bn; Tesco Bank up 114% to £94m
  • Underlying diluted EPS reduction of (7.9)%**
  • Interim dividend per share maintained at 4.63p
  • Group capital expenditure brought down from £2.1bn to £1.6bn; on track for a full year reduction to c.£3.2bn
  • * Group sales (inc. VAT) exclude the accounting impact of IFRIC 13.
  • ** Underlying diluted EPS reduction calculated on a constant tax rate basis; (6.7)% at actual tax rates.