Tesco 2000 Annual Report Download - page 42

TESCO PLC
40
Year ended February 1996 1997 1998 11999 2000
Financial statistics £m
Turnover excluding VAT
UK 11,560 13,118 14,971 15,835 16,958
Rest of Europe 534 769 1,481 1,167 1,374
Asia – – – 156 464
12,094 13,887 16,452 17,158 18,796
Operating profit 2
UK 713 760 875 919 993
Rest of Europe 11 14 37 48 51
Asia – – – (2) (1)
724 774 912 965 1,043
Operating margin 2
UK 6.2% 5.8% 5.8% 5.8% 5.9%
Rest of Europe 2.1% 1.8% 2.5% 4.1% 3.7%
Asia – – – (1.3)% (0.2)%
Total Group 6.0% 5.6% 5.5% 5.6% 5.5%
Share of profit/(loss) from joint ventures – – (6) 6 11
Net interest payable (43) (24) (74) (90) (99)
Underlying profit 3681 750 832 881 955
Ireland integration costs – – (63) (26) (6)
Goodwill amortisation – – – (5) (7)
Net loss on disposal of discontinued operations 4––(8)––
Net loss on disposal of fixed assets (6) – (1) (8) (9)
Profit before taxation 675 750 760 842 933
Taxation (209) (230) (228) (237) (259)
Minority interest –––1–
Profit for the financial year 466 520 532 606 674
Adjusted diluted earnings per share 37.30p 7.83p 8.84p 9.37p 10.18p
Adjusted earnings per share 7.50p 8.03p 9.05p 9.59p 10.36p
Dividend per share 3.20p 3.45p 3.87p 4.12p 4.48p
Net worth – £m53,588 3,890 3,903 4,377 4,798
Return on shareholders’ funds 620.4% 20.1% 21.3% 21.3% 20.9%
Return on capital employed716.9% 17.1% 18.7% 17.2% 16.1%
Net assets per share 856p 60p 59p 65p 70p
UK retail productivity £
Turnover per employee9143,3359 146,326 149,799 151,138 156,427
Profit per employee 98,841 8,478 8,755 8,771 9,160
Wages per employee 913,948 14,222 15,079 15,271 15,600
Weekly sales per sq ft10/11 18.31 19.74 20.48 21.05 21.43
UK retail statistics
Market share in food and drink shops 12 13.4% 14.2% 14.8% 15.4% 15.5%
Number of stores 545 568 618 639 659
Total sales area – 000 sq ft 11 13,397 14,036 15,215 15,975 16,895
Average store size (sales area – sq ft) 13 25,600 26,300 26,600 26,654 27,720
Full-time equivalent employees 14 80,650 89,649 99,941 104,772 108,409
Group statistics
Number of stores 734 758 781 821 845
Total sales area – 000 sq ft 15,114 16,747 18,254 21,353 24,039
Full-time equivalent employees 84,918 98,463 119,127 126,914 134,896
Share price (pence)
Highest 113 123 180 202 197
Lowest 82 88 113 157 156
Year end 90 116 172 177 169
five year record
notes
1 53 week period.
2 Excludes integration costs and goodwill
amortisation. Operating margin is based
upon turnover exclusive of VAT.
3 Underlying profit, adjusted and
adjusted diluted, earnings per share
excludes net loss on disposal of fixed
assets, loss on disposal of discontinued
operations, Ireland integration costs
and goodwill amortisation.
4 Represents loss on disposal
of discontinued operations.
5 Total capital employed at the
year end.
6 Underlying profit divided by weighted
average shareholders’ funds.
7 Operating profit divided by average
capital employed.
8 Based on number of shares at year end.
9 Based on turnover exclusive of VAT,
operating profit and total staff cost
per full-time equivalent employee.
10 Based on weighted average sales
area and turnover inclusive of VAT
excluding property development.
11 Store sizes exclude lobby and
restaurant areas.
12 Based on Tesco food, grocery, non-
food and drink sales and Institute
of Grocery Distribution/Office for
National Statistics data for the year
to the previous December.
13 Average store sizes exclude Metro
and Express stores.
14 Based on average number of full-
time equivalent employees in the UK.