Tesco is one of the worlds leading international retailers. Since the company first the trading name of Tesco, in the mid 1920s, the group has expanded into different formats, different markets and different sectors. The UKs leading retailer Tesco was floated on the stock exchange in 1947 and in 1995 took over rival Sainsburys position as the UK number one. The principal activity of the group is food retailing, with over 2,000 stores worldwide. Tesco has a long term strategy for growth, based on four key parts: growth in the Core UK business, to expand by growing internationally, to be as strong in non-food as in food and to follow customers into new retailing services. The company launched a home shopping service in 2000, allowing customers to order their shopping online. Tesco is now expanding its convenience stores and overseas into areas such as Taiwan, Malaysia, Poland, the US and Ireland.

Upper graph = 12 month share price with 6 month moving average
Lower graph = 12 month volume (red line = volume average).

Tesco To Reveal Worst Performance In 20 Yrs?

Half Yearly Report.


RNS Number : 5658P

Tesco PLC

05 October 2011

INTERIM RESULTS 2011/12

26 weeks ended 27 August 2011


GOOD PROGRESS AROUND THE WORLD - DECISIVE ACTION IN THE UK
===========================================================

-- Group sales up 8.8% to GBP35.5bn(*) , up 7.3% exc. petrol

-- 6.2% rise in underlying profit before tax to GBP1.9bn

-- 12.1% increase in statutory profit before tax to GBP1.9bn

-- 3.7% growth in Group trading profit to GBP1.8bn, after GBP57m increase in Bank PPI(**) provision; 8.2%growth before Bank PPI provision increase and Hungary sales tax

-- 4.5% UK trading profit growth; 11.8% growth in Europe, 18.7% in Asia

-- US losses reduced by 23.2%; on track for sharp reduction in full year

-- Underlying diluted EPS growth of 6.0%(***) ; dividend per share growth of 5.9%

-- Further rise in Group return on capital employed expected this year

-- On track to create net 7,000 jobs in UK this year

-- Ranked highest retailer for tackling climate change in the Carbon Disclosure Project Global 500

Tesco enjoys strong profit growth in Europe and Asia
StockMarketWire.com
The UK's biggest supermarket operator Tesco said group sales were up 8.8% to 35.5bn in the half-year to 27th August, up 7.3% excluding petrol. There was a 6.2% rise in underlying profit before tax to 1.9bn.

The group enjoyed a 12.1% increase in statutory profit before tax to 1.9bn.

There was 3.7% growth in trading profit to 1.8bn, after a 57m increase in Bank PPI provision; 8.2% growth before Bank PPI provision increase and Hungary sales tax.

UK trading profit grew 4.5%; 11.8% growth in Europe, 18.7% in Asia.

US losses were reduced by 23.2%; on track for sharp reduction in full year.

Underlying diluted EPS growth was 6%; dividend per share growth 5.9% at 4.63p.

The group said it was on track to create a net 7,000 jobs in the UK this year.

Philip Clarke, CEO, said: 'I am pleased that excellent growth in Europe and Asia, as well as an encouraging performance in the United States, have supported further progress in the first half, despite the challenges of subdued demand in the UK, particularly in non-food categories.

'We are taking decisive action in key areas to strengthen our performance going forward:

First, we are making substantial changes to our core UK business to sharpen execution and competitiveness for customers - investing in price and promotions, ranging, service and store environment - in food, general merchandise, clothing and electronics;

Second, we have decided to slow the final stage of Tesco Bank systems migration to ensure it is as smooth as possible for customers and staff as we prepare for growth next year;

Third, the implementation of our plan to break-even in the US in 2012/13 is showing promising early results;

Fourth, in line with our targets to improve investment returns, we are exiting Japan, having decided we cannot build a sufficiently scalable business there.

'These actions reflect our focus on the immediate objectives I set out for the business last April and I am confident that these, combined with the strategic strength and diversity of the Group's businesses, mean we are well-positioned to make further progress during the second half.'

Story provided by StockMarketWire.com

Keep up Bernard ! :-)

lol.

In a sea of blue TSCO red

I suppose it did rise 2.6% yesterday on an otherwise big down day.

Britain's biggest supermarket Tesco (LSE: TSCO.L - news) has reported its worst performance in 20 years with another fall in sales in its half-yearly results.

TSCO v SBRY.

I am going to sell my large holding in tesco .
and boycott the shops along with some other people .
we are fade up of them employing migrants and not locals
as an investor i do not like this as migrants only spend there spare cash
in the pound shops and yes i have done my looking go on a saturday and 6 out of 10 will not speak english . no wonder the company is going bad they are shooting them selves in the foot we need to employ people who spend there wages in this country not send there money out of the UK

Director Andrew Higginson sold 350,000 @403.0 value 1,412.005 maybe he agrees with TANKER, or just doing a spot of early Chrimbo shopping? Still holds 1,502,222

mail today ABEL @COLE i have bought this product and it rots before you use it
it is not very good tasteless and not worth buying

Bit of a punt, interim 06/12 Long @ 383.4 (SB)

Stop moved to 393.4 to lock in + 10

As previously announced on 11 May 2011, Sir Richard Broadbent takes over as Chairman of Tesco Plc from David Reid today.

Stop to 398.4 to lock in + 15

Stop to 403.4 to lock in + 20

Closed @ 406.0 +22.6

Well done - now work the same magic into lloy please.

Thanks kernow, wish I could mate :O)