Tesco Annual Report 2010

Powerful Essays
A business for a new decade

Tesco PLC Annual Review and Summary Financial Statement 2010

Contents

Financial highlights

Overview Chairman’s statement A business for a new decade Tesco at a glance Chief Executive’s review Our business Long-term strategy and business highlights International Core UK Non-food Retailing Services Community Our people

1 2 6 8

Group sales (including VAT)*

+6.8% +10.1% +10.4% +9.1% +9.8% +9.1%
2008/9 ‡

Underlying profit before tax

Group profit before tax

10 12 14 16 18 20 22

Underlying diluted earnings per share**

Diluted earnings per share

Summary Financial Statement Summary report of the Directors 24 Group financials 26 Our Board of Directors 29

Dividend per share
All growth figures reported on a 52-week basis.

52 weeks ended 27 February 2010

2009/10

52 weeks

53 weeks

Group sales (£m) (including VAT)* Group revenue (£m) (excluding VAT) Group trading profit (£m) Underlying profit before tax (£m) Group profit before tax (£m) Underlying diluted earnings per share (p) Dividend per share (p) Group enterprise value (£bn) (market capitalisation plus net debt) Return on capital employed

62,537 56,910 3,412 3,395 3,176 31.66 13.05 41.4 12.1%

58,570 53,115 3,039 3,083 2,876 28.50 – – –

59,426 53,898 3,086 3,124 2,917 28.87 11.96 35.9 12.8%

* Group sales (inc. VAT) excludes the accounting impact of IFRIC 13 (Customer Loyalty Programmes). ** Growth in underlying diluted EPS calculated on a constant tax rate basis. ‡ Restated for the impact of IFRIC 13 and IFRS 2.

www.tesco.com/annualreview2010

Over the past decade Tesco has transformed itself into a diverse international business – and by following our consistent strategy we are well positioned for long-term growth.
I am pleased to report that the Tesco team has once again delivered a good set of results – guided by experienced management who have steered the business through recessions before. As markets around the world

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