Financial performance

Group results 2015/16


52 Weeks ended 27 February 2016

On a continuing operations basis

2015/16 2014/15 Year-on-year change1 (Constant exchange rates) Year-on-year change1 (Actual) exchange rates) Change vs 53-week 2014/15 statutory results
Group sales (exc. VAT, exc. fuel) £48,352m £49,853m 0.1% (1.6)% (3.0)%
Fuel £6,081m £7,072m (11.3)% (10.9)% (14.0)%
Revenue (exc. VAT, inc. fuel) £54,433m £56,925m (1.3)% (2.8)% (4.4)%
Group operating profit before exceptional items2 £944m £940m 1.1% 0.0% 0.4%
- UK & ROI3 £505m £498m 1.4% 0.6% 1.4%
- International £277m £254m 11.4% 9.1% 9.1%
- Tesco Bank £162m £188m (13.8)% (13.8)% (13.8)%
Include exceptional items £102m £(6,690)m      
Group statutory operating profit/ (loss) £1,046m £(5,750)m n/m n/m n/m
Group profit before tax before exceptional items and net pension finance costs £435m £490m   (11.9)% (11.2)%
Group statutory profit/(loss) before tax £162m £(6,334)m   n/m n/m
Diluted EPS before exceptional items 3.41p 4.14p     (17.6)%
Diluted EPS before exceptional items and net pension finance costs 4.97p 5.46p     (9.1)%
Diluted EPS 2.76p (69.56)p     n/m
Capex £1.0bn £1.8bn     down 45.4%
Net debt4,5 £(5.1)bn £(8.5)bn     down 39.7%
Cash generated from retail operations4 £2.6bn £1.9bn     up 38.8%
  1. Change is shown on a comparable 52-week basis.
  2. Exceptional items are excluded by virtue of their size and nature in order to better reflect management’s view of the performance of the Group.
  3. The elimination of intercompany transactions between continuing operations and the Korea discontinued operation, as required by IFRS 5 and IFRS 10, has resulted in a reduction to the prior period UK & ROI operating profit of £(9)m.
  4. Includes both continuing and discontinued operations.
  5. Net debt excludes the net debt of Tesco Bank.