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Shamus

Tesco Post Record Profits. 30% Market Share.

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From BBC

<

Tesco made an underlying £2.25bn profit last year, the supermarket giant said, 17% higher than the year before.

The firm, which has a 30% share of UK supermarket sales, said the results represented "good progress in a more challenging year".

Tesco saw strong sales both in the UK and abroad, with UK sales rising 10.7% and foreign sales increasing by 23%.

The retailer also said it would dedicate £100m to a new fund to invest in environmental technology.

Shopping experience

Tesco boss Sir Terry Leahy said he was satisfied with the firm's performance over the past year.

Total sales rose 13% to £41.8bn, while like-for-like sales at its UK outlets - which exclude new store openings - rose 7.5%.

Group profit before tax - another measure of profitability - came in 16.7% higher at £2.21bn.

"By investing to improve the shopping experience for customers in our businesses around the world, we have been able to deliver another strong sales performance, manage the impact of higher oil-related and other external costs and improve returns for shareholders," Sir Terry said.

Tesco also said that it planned to release £5bn in cash from property transactions over the next five years, £1.5bn of which will be used to buy back shares.

>

Perhaps they can start selling 'Value Homes'. These could be built close to the stores. Maybe as an integral part of the supermarket building. It would suit busy working families and they wouldn't have far to go to shop!! :)

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Tesco are massively concerned about the price of fuel - so are building more energy efficient stores - making them more resilient to price increases...

100 million on renewable energy sources apparently and it wants to massivley increase the amount of recycling that goes on through its stores.... (just been on the news)

That nice man from Gazprom was on tv last night wanting to be the worlds biggest company...

Edited by SarahBell

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Half their turnover overseas? Sounds like another British company doing well in the world, no wonder the daggers are always out for them!

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If I was a Tesco shareholder I'd be very impressed by this master of understatement:

"Tesco boss Sir Terry Leahy said he was satisfied with the firm's performance over the past year."

Absolutely brilliant!

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Brilliant, Good for Tescos.

You go in there with £100 and the stuff you come out with is amazing, i wish we could get the same sort of value in the property market.

And stuff the little shops, i remember what stuck up little shites some of these people were 20/30 years ago, they thought they used to own the town or villiage along with the teachers and Doctors.

Sam

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Brilliant, Good for Tescos.

You go in there with £100 and the stuff you come out with is amazing, i wish we could get the same sort of value in the property market.

And stuff the little shops, i remember what stuck up little shites some of these people were 20/30 years ago, they thought they used to own the town or villiage along with the teachers and Doctors.

Sam

Hmm. I think there should be space for both. Niche shops are essential.

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Tesco is the only big store without a presence in my town.......but when i've visited thsm elsewhere i've been disappointed.......they're nowhere near as cheap as Morrisons and ASDA and nowhere near as nice as Sainsbury's or Waitrose..........

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Guest Cletus VanDamme

It's good for the board and the shareholders, but what about your averge check-out worker or shelf-stacker?

In Victorian times companies looked after their workers, provided housing and healthcare for them.

It's good that a British company is doing well, but I'm not keen on seeing a Tesco monoculture in our towns. And I don't imagine your average Tesco worker will have much luck getting on the housing ladder.

Personally, I don't shop there.

Edited by Cletus VanDamme

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It's good for the board and the shareholders, but what about your averge check-out worker or shelf-stacker?

In Victorian times companies looked after their workers, provided housing and healthcare for them.

It's good that a British company is doing well, but I'm not keen on seeing a Tesco monoculture in our towns. And I don't imagine your average Tesco worker will have much luck getting on the housing ladder.

Personally, I don't shop there.

They have a decent share-save scheme for employees, if they really want to be part of the company!

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I noticed that thing about them sticking loads of wind turbines on their stores - and was also aware that their razor-thin margins expose them more than most to the vagaries of rising fuel prices. However, I didn't put two and two together until now, thinking that it was mere tokenism.

Good. Perhaps capitalism can save us after all? :blink:

Mind you, Tesco are the new communist party. Soon they will provide all our basic material and emotional needs. Tesco TV, Tesco dating (look out for the value range and 5 minute microwave jobs), Tesco blood banks, Tesco schooling... imagine! What a wonderful monopolised future we all have in store! ;)

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I think its great that Tesco are doing well in the UK and abroad.

However, do Tesco's staff earn enough to buy a home? <_<

Er, no. But you probably already knew that. :D

And those Tesco staff that once probably could have - in their management/IT departments - have mostly found their jobs outsourced to India in the last 18 months. I know, as I've just finished a long contract with them. Worst place I've ever contracted. Period. ...And I've been contracting for nearly 18 years, so that's saying something!

Next time you buy those cheap goods, just remember why they are so cheap. And ask yourself if the UK can keep up these crazy housing costs when the rest of the world is already far, far cheaper than us. HPC - it's the only way to go. Again, you probably knew all of that! :D

Cheers,

Nomadd

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I met a buyer from Tesco once, she was having a shocking week having nailed the prices on bread so far down, the suppliers had gone bust about a month before Christmas.

Their business model is not sustainable, Cheap imports and poor quality produce are the only way they can acheive their prices.

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OH NO! A British Company is doing well and making a profit!!!

GAAAACKCKK!!

BURN! CRUCIFY! DESTROY! ANY COMPANY THAT MAKES A PROFIT!!!

BP!

TESCO!

SHELL!

DESTROY! DESTROY! DESTROY!

This country is so full of socialist morons.

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I met a buyer from Tesco once, she was having a shocking week having nailed the prices on bread so far down, the suppliers had gone bust about a month before Christmas.

Their business model is not sustainable, Cheap imports and poor quality produce are the only way they can acheive their prices.

So it has nothing to do with MIS and clever supply chains? k.

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I think its great that Tesco are doing well in the UK and abroad.

However, do Tesco's staff earn enough to buy a home? <_<

Nearly all the staff who work in the Tesco I sometimes go to are Asian matriarchs. There must be 30-40 tills.

Can they afford to buy a home? They dont need to. With limited English Tesco gives them a steady job and crucially gives them a sizeable discount on their biggest expenses at home (groceries).

These families are economic power-houses and IMO can easily withstand (probably take advantage of) a HPC.

Dad works, mum works at the supermarket (save money). Adult children live at home (no rent, save money).Grandparents do the childcare (save money). Add up all these things and is it any wonder there are countless families like this with property portfolios.

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OH NO! A British Company is doing well and making a profit!!!

GAAAACKCKK!!

BURN! CRUCIFY! DESTROY! ANY COMPANY THAT MAKES A PROFIT!!!

BP!

TESCO!

SHELL!

DESTROY! DESTROY! DESTROY!

This country is so full of socialist morons.

Tesco's don't use local suppliers - and when they do they squeeze the prices down so low, i'd be surprised if they make any profit to survive - we are fooled into supermarkets being some great thing. That they sell everything, meanwhile, the shops that sell better quality locally produced things (like butchers) are shut down (see bread example above), and we're forced to buy our food from a different country, because the great choice that they supposedly have in their stores is just mass produced - factory fed stuff. It's just a place for food porn. Ok - they give people jobs. My friend who worked in the bakery in a supermarket, used to make and sell biscuits - had his own company. It closed down because of supermarkets. They support no-one but themselves. (Well they do do computers for schools - wow). They do far less to support this country than you think - so why should we be happy for them - i don't see what they've got to be proud of. They've just lowered the quality of the food we eat, and made a big fat profit. I'm all for companies doing well - especially British ones, but please they are not good for the economy, or our diets.

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  • 341 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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