Group results 2016/17
52 Weeks ended 25 February 2017
On a continuing operations basis
|2016/17||2015/16||Year-on-year change (Constant exchange rates)||Year-on-year change (Actual exchange rates)|
|Group sales (exc. VAT, exc. fuel) 1||£49,867m||£47,859m||1.1%||4.3%|
|Revenue (exc. VAT, inc. fuel)||£55,917||£53,933m||(0.8)%||3.7%|
|Group operating profit before exceptional items 2||£1,280m||£985m||24.9%||29.9%|
|- UK & ROI 3||£803m||£503m||57.7%||59.6%|
|- Tesco Bank||£157m||£162m||(3.1)%||(3.1)%|
|Include exceptional items||£(263)m||£87m|
|Group statutory operating profit/ (loss)||£1,017m||£1,072m||(11.8%)||(5.1)%|
|Group profit before tax before exceptional items and net pension finance costs||£842m||£490m||71.8%|
|Group statutory profit/(loss) before tax||£145m||£202m||(28.2)%|
|Diluted EPS before exceptional items||6.75p||4.05p|
|Diluted EPS before exceptional items and net pension finance costs||7.90p||5.61p|
|Cash generated from retail operations5||£2.3bn||£2.1bn|
- 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.
- The elimination of intercompany transactions between continuing operations and the discontinued Turkey operation, as required by IFRS 5 and IFRS 10, has resulted in a reduction to the prior period UK & ROI operating profit of £(2)m.
- 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.