PLC | Investors


3Q and Christmas Trading Statement.

Annual General Meeting 2020.

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2019 Highlights


Group Sales1

2019: £56.9bn


Group operating profit before exceptional and other items2

2019: £2,607m


Retail free cash flow3

2019: £889m


Net debt3

2019: £(13.2)bn


Diluted EPS before exceptional and other items4

2019: 14.01p


Dividend per share

2019: 5.77p

*Last year figures restated for adoption of IFRS 16.

  1. Group sales exclude VAT and fuel. Sales growth shown on a comparable days basis for Central Europe and Asia. Booker consolidated from 5 March 2018 and therefore includes 9 additional days in FY 2019/20 vs. FY 2018/19. The 9 additional days of Booker sales in the current year contributed 0.2% to Group sales growth in the year.
  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 and retail free cash flow exclude the impact of Tesco Bank in order to provide further analysis of the retail cash flow statement. Net debt also includes lease liabilities following the adoption of IFRS 16. Net debt excluding lease liabilities was £(2.6)bn, down £0.2bn year-on-year.
  4. Headline ‘diluted earnings per share’ exclude exceptional items, amortisation of acquired intangibles, net pension finance costs and fair value remeasurements of financial instruments.


2018/19 Financial Statements on a Post-IFRS 16 Basis