Five year summary
Details of our financial performance over the last five years.
|Financial statistics (£m)|
|Sales including VAT excluding IFRIC 13||51,773||59,426||62,537||67,074||72,035|
|Revenue excluding IFRIC 13|
|Rest of Europe||6,872||8,831||8,704||9,192||9,878|
|Group revenue excluding IFRIC 13||47,298||53,898||56,910||61,174||65,166|
|Rest of Europe||397||496||474||527||525|
|Group trading profit||2,751||3,086||3,412||3,714||3,761|
|Operating profit margin3||5.9%||5.9%||6.1%||6.4%||6.1%|
|Share of post-tax profits of joint ventures and associates||75||110||33||57||91|
|Net finance costs||(63)||(362)||(314)||(333)||(241)|
|Profit before tax||2,803||2,9174||3,176||3,641||3,835|
|Profit for the year from continuing operations||2,130||2,138||2,336||2,777||2,956|
|Profit for the period||2,130||2,138||2,336||2,671||2,814|
|Owners of the parent||2,124||2,1334||2,327||2,655||2,806|
|Underlying profit before tax - continuing operations5||2,846||3,124||3,395||3,853||3,915|
|Other financial statistics|
|Diluted earnings per share - continuing operations||26.61p||26.96p||29.19p||34.25p||36.64p|
|Underlying diluted earnings per share - continuing operations||27.02p||28.87p||31.66p||36.26p||37.41p|
|Dividend per share6||10.90p||11.96p||13.05p||14.46p||14.76p|
|Return on capital employed ('ROCE')7||12.7%8||12.8%9||12.1%||12.9%10||13.3%|
|Total shareholder return11||22.8%||8.0%||9.5%||6.7%||(3.0%)|
|Net debt (£m)||6,182||9,600||7,929||6,790||6,838|
|Enterprise value (£m)12||37,656||35,907||41,442||39,462||32,324|
|Group retail statistics|
|Number of stores||3,75115||4,33215||4,83615||5,26513||6,234|
|Total sales area - 000 sq ft14||76,86715||88,55615||95,23116||103,17213||112,433|
|Average full-time equivalent employees||345,737||364,015||366,413||382,049||406,088|
|UK retail statistics|
|Number of stores||2,13715||2,30615||2,50715||2,715||2,979|
|Total sales area - 000 sq ft14||30,45715||32,38915||34,23716||36,722||39,082|
|Average full-time equivalent employees||193,917||194,420||196,604||200,966||205,852|
|Revenue per employee - £17||179,840||193,436||196,120||199,621||207,907|
|Weekly sales per sq ft - £18||25.43||25.34||25.22||24.95||24.87|
- During the financial year, the Group announced its decision to sell its operations in Japan. Accordingly, these operations have been treated as discontinued in 2012. The 2011 statistics have been re-presented to be consistent with 2012. Prior years have not been re-presented.
- Results have been restated to reflect the US and Tesco Bank as separate segments.
- Operating profit includes integration costs and profit arising on sale of fixed assets. Operating margin is based upon revenue excluding VAT.
- The Group adopted IFRIC 13 'Customer Loyalty Programmes' and the amendments to IFRS 2 'Share-Based Payment' from 24 February 2008. Periods before this date have not been restated.
- Underlying profit before tax excludes the impact of non-cash elements of IAS 17, 19, 32 and 39 (principally the impact of annual uplifts in rent and rent-free periods, pension costs, and the marking to market of financial instruments); the amortisation charge on intangible assets arising on acquisition and acquisition costs, and the non-cash impact of IFRIC 13. It also excludes restructuring and other one-off costs.
- Dividend per share relating to the interim and proposed final dividend.
- Return on capital employed is profit before interest and tax less tax at the effective rate of tax divided by the calculated average of opening and closing net assets plus net debt plus dividend creditor less net assets held for resale.
- Using a 'normalised' tax rate before start-up costs in the US and Tesco Direct and excluding the impact of foreign exchange in equity and our acquisition of a majority share of Dobbies.
- Excluding acquisition of Tesco Bank and Homever, India start-up costs, and after adjusting for assets held for sale. Calculated on a 52-week basis, ROCE for 2009 is 12.8%.
- Includes Japan.
- TSR is the notional annualised return from a share: the percentage change in the share price, plus the dividends paid and reinvested, over the last five years.
- Market capitalisation plus net debt.
- Includes franchise stores but excludes Japan.
- Store sizes exclude lobby and restaurant areas.
- Restated to include Dobbies stores.
- Restated to include Dobbies stores and account for a space restatement of 109,000 sq ft driven by a comprehensive remeasurement of One Stop stores.
- Based on average number of full-time equivalent employees and revenue exclusive of VAT.
- Based on average sales area and average weekly sales, excluding Dobbies stores.