Analyst consensus

 

 

 

2017/18

2018/19

2019/20

Estimates

 

15

15

14

Group revenue (exc. VAT, inc fuel £m)

 

57,407

58,409

59,355

High

 

57,884

59,387

60,840

Low

 

57,076

57,428

57,799

Operating profit before exceptional items (£m)

 

1,564

1,789

2,023

High

 

1,657

2,065

2,426

Low

 

1,484

1,587

1,603

Statutory PBT (£m)

 

1,041

1,349

1,608

High

 

1,189

1,797

2,080

Low

 

769

1,028

1,208

Diluted EPS before exceptional items and net pension finance costs (p)

 

11.0

13.4

16.1

High

 

13.4

16.1

20.7

Low

 

9.7

11.1

11.8

Please note that any opinions, estimates or forecasts regarding Tesco PLC performance made by the contributing analysts to the above consensus are theirs alone and are not reported, endorsed or reviewed by the company.

Tesco PLC would like to thank the following investment banks:

Bank of America, Merill Lynch (01 12 2017)
Berenberg (12 01 2018)
Credit Suisse (23 01 2018)
Deutsche Bank (06 12 2017)
Exane (21 11 2017)
Goldman Sachs (05 12 2017)
Grupo Santander (11 12 2017)
HSBC (08 01 2018) 
Jefferies (05 12 2017)
Kepler Cheuvreux (06 12 2017)
Macquarie (26 01 2018)
Redburn (11 12 2017)
Sanford Bernstein (06 12 2017)
Shore Capital (06 12 2017)
UBS (04 12 2017)

 

Given Tesco PLC is currently in an offer period in connection with the proposed merger with Booker Group PLC, the following analysts have been excluded because their forecasts pre-date the publication of Tesco PLC’s latest interim statement of annual results:

  • Morgan Stanley (31 07 2017)
  • Societe Generale (08 12 2016)

Given Tesco PLC is currently in an offer period in connection with the proposed merger with Booker Group PLC, the following analysts have been excluded because their forecasts are by investment analysts whose employer is controlled by, controls or is under the same control as any party to the offer or a connected adviser to any party to the offer:

  • Citi
  • Barclays
  • JP Morgan

Tesco is not regulated by the Financial Conduct Authority and cannot offer investment advice. It should be noted that forecasts are by definition forward looking and are therefore subject to risks and uncertainties that may materially affect eventual results. Tesco will endeavour to ensure that the information is updated promptly. Nothing in this analysis should be taken as a recommendation to buy or sell shares in Tesco or to take any other action or place any reliance on the analysis.

Neither Tesco nor any subsidiary undertaking or any director, officer or employee of Tesco accepts any responsibility for the accuracy of the forecasts used in this analysis and therefore shall have no liability whatsoever for the consequences of any reliance or actions taken or not taken based on any of the information in this analysis.