Menu
25/04/2006
Tesco unveils massive profits
Britain's leading supermarket chain, Tesco, has unveiled profits of £2.2 billion for the past year.
The profits increase represents a rise of nearly 17% on the previous year's figures.
The supermarket chain's latest figures showed a 13.2% increase in group sales over the last year.
Both international and UK sales increased - by 23% and 10.7% respectively.
Like-for-like sales in the UK - which exclude new store openings - rose by 7.5%.
Fourth quarter like-for-like sales growth, excluding petrol, was 4.9%.
Tesco, which overtook Sainsbury's as the UK's biggest supermarket chain in 1995, took £32.7 billion in sales from shoppers in the domestic market during the year to the end of February.
Tesco chief executive Sir Terry Leahy said that the results represented "good progress across the group in a more challenging year".
Tesco also announced plans to release £5 billion of cash from property transactions over the next five years, using £1.5 billion to buy back shares.
The supermarket chain had been accused of buying up sites in order to prevent competitors purchasing the land.
However, the claims were denied by Sir Terry who said that any land owned by the firm, which could not be developed for Tesco, would be sold on.
Tesco also confirmed that over 20,000 new jobs would be created worldwide this year and unveiled plans to establish a £100 million capital fund to invest in environmental technology.
(KMcA/CD)
The profits increase represents a rise of nearly 17% on the previous year's figures.
The supermarket chain's latest figures showed a 13.2% increase in group sales over the last year.
Both international and UK sales increased - by 23% and 10.7% respectively.
Like-for-like sales in the UK - which exclude new store openings - rose by 7.5%.
Fourth quarter like-for-like sales growth, excluding petrol, was 4.9%.
Tesco, which overtook Sainsbury's as the UK's biggest supermarket chain in 1995, took £32.7 billion in sales from shoppers in the domestic market during the year to the end of February.
Tesco chief executive Sir Terry Leahy said that the results represented "good progress across the group in a more challenging year".
Tesco also announced plans to release £5 billion of cash from property transactions over the next five years, using £1.5 billion to buy back shares.
The supermarket chain had been accused of buying up sites in order to prevent competitors purchasing the land.
However, the claims were denied by Sir Terry who said that any land owned by the firm, which could not be developed for Tesco, would be sold on.
Tesco also confirmed that over 20,000 new jobs would be created worldwide this year and unveiled plans to establish a £100 million capital fund to invest in environmental technology.
(KMcA/CD)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
14 June 2002
Tesco reveal three-month sales rise
Leading UK supermarket chain Tesco has revealed an 11% rise in sales in the three months to mid-May. The company saw its profits shoot up by 14% to over £1 billion in its last financial year and said recent growth had been driven by a mix of strong performance in the UK core operations and increasing sales of non-food items.
Tesco reveal three-month sales rise
Leading UK supermarket chain Tesco has revealed an 11% rise in sales in the three months to mid-May. The company saw its profits shoot up by 14% to over £1 billion in its last financial year and said recent growth had been driven by a mix of strong performance in the UK core operations and increasing sales of non-food items.
20 April 2004
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
14 June 2010
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
18 June 2004
Tesco report jump in UK sales
Tesco's UK market share has taken another jump after its quarterly results defied forecasters expectations. Tesco's latest quarterly trading report revealed that total UK sales for the 12 weeks ending May 22 were up 11.1% - significantly ahead of industry forecasts. The UK operation of Tesco reported like-for-like sales up 7.
Tesco report jump in UK sales
Tesco's UK market share has taken another jump after its quarterly results defied forecasters expectations. Tesco's latest quarterly trading report revealed that total UK sales for the 12 weeks ending May 22 were up 11.1% - significantly ahead of industry forecasts. The UK operation of Tesco reported like-for-like sales up 7.
25 November 2005
Tesco remains strong despite tough market
Leading UK supermarket chain Tesco have unveiled a rise in sales, despite tougher conditions in the retail market. Britain’s largest supermarket reported an increase in group sales of 13.9% in the third quarter, while UK sales also grew by 11.6%. Tesco also reported an increase in like-for-like growth of 7.
Tesco remains strong despite tough market
Leading UK supermarket chain Tesco have unveiled a rise in sales, despite tougher conditions in the retail market. Britain’s largest supermarket reported an increase in group sales of 13.9% in the third quarter, while UK sales also grew by 11.6%. Tesco also reported an increase in like-for-like growth of 7.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
