PLC | Investors


A covid-safe masked Tesco colleague tidying products on a supermarket shelf

Q3 and Christmas Trading Statement 2021/22.

13 January 2022

Annual General Meeting 2021.

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2021 Highlights


Group Sales1

2020: £49.9bn


Group operating profit before exceptional and other items2

2020: £2,525m


Retail free cash flow3

2020: £1,690m


Net debt3

2020: £(12.3)bn


Diluted EPS before exceptional and other items (adjusted for share consolidation)4

2020: 18.60p


Ordinary dividend per share

2020: 9.15p

*All measures apart from net debt are shown on a continuing operations basis. Prior year comparatives are also shown on a continuing operations basis. Net debt includes discontinued operations until the point of sale.

  1. Group sales exclude VAT and fuel. Sales change shown on a comparable days basis for Central Europe.

  2. Excludes amortisation of acquired intangibles and excludes exceptional items by virtue of their size and nature in order to reflect management’s view of underlying performance.

  3. Net debt, total indebtedness and retail free cash flow exclude Tesco Bank. Net debt also includes lease liabilities following the adoption of IFRS 16.

  4. Diluted EPS before exceptional and other items (adjusted for share consolidation) is provided to aid comparability, as the sale of our businesses in Thailand and Malaysia and the share consolidation and special dividend which followed distort our financial result in the year. As such, this metric is presented on a basis other than in accordance with IAS 33 and captures the full impact of the share consolidation as if it had taken place at the start of the 2019/20 financial year.

A covid-safe Tesco employee interacting with a customer

Interim results 2021/22.