Group results 2017/18
52 weeks ended 24 February 2018
On a continuing operations basis
|2017/18||2016/17||Year-on-year change (Constant exchange rates)||Year-on-year change (Actual exchange rates)|
|Group sales (exc. VAT, exc. fuel)(a)||£50,991m||£49,867m||0.6%||2.3%|
|Revenue (exc. VAT, inc. fuel)||£57,491m||£55,917m||1.3%||2.8%|
|Group operating profit before exceptional items(b)||£1,644m||£1,280m||25.9%||28.4%|
|UK & ROI||£1,053m||£803m||30.3%||31.1%|
|Include exceptional items||£193m||£(263)m|
|Group operating profit||£1,837m||£1,017m||76.6%||80.6%|
|Group profit before tax before exceptional items, IAS 19 finance costs and IAS 39 fair value remeasurements||£1,282m||£781m||64.1%|
|Group statutory profit before tax||£1,298m||£145m||795.2%|
|Diluted EPS before exceptional items, IAS 19 finance costs and IAS 39 fair value remeasurements||11.88p||7.30p|
|Dividend per share||3.0p||–|
|Cash generated from retail operations(d)||£2.8bn||£2.3bn|
- Group sales exclude VAT and fuel. Sales growth shown on a comparable days basis.
- Excludes exceptional items by virtue of their size and nature in order to reflect management’s view of the performance of the Group.
- Capex is shown excluding property buybacks.
- Net debt and retail operating cash flow exclude the impact of Tesco Bank, in order to provide further analysis of the retail cash flow statement.
- Net debt includes both continuing and discontinued operations.
The definition and purpose of the Group’s alternative performance measures, which includes like-for-like sales, are defined on pages 150 to 153. A detailed analysis of discontinued operations can be found in Note 7.