![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Tesco PLC (PK) | USOTC:TSCDY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -0.17% | 11.73 | 11.69 | 11.81 | 11.74 | 11.685 | 11.71 | 58,776 | 21:01:20 |
By Matteo Castia
Tesco PLC said Wednesday that pretax profit for fiscal 2020 fell on higher expenses and that it expects impairment charges from the coronavirus pandemic of up to 925 million pounds ($1.14 billion).
The U.K.'s largest grocer by market share made a pretax profit of GBP1.32 billion for the year ended Feb. 29, compared with GBP1.62 billion in fiscal 2019.
Revenue rose to GBP64.76 billion in fiscal 2020 from GBP63.91 a year earlier, while sales--excluding VAT and fuel--rose 1.1% year-on-year to GBP57.37 billion.
Adjusted profit--one of the company's preferred metrics which strips out exceptional and other one-off items--was GBP1.96 billion. This was up from GBP1.56 billion in the previous financial year.
The board declared a final dividend of 6.50 pence, for a total yearly payout of 9.15 pence, compared with 5.77 pence a year earlier.
"Covid-19 is having a material impact on the operations of our business and we are incurring significant additional costs, particularly in payroll as we recruit additional colleagues to meet demand," the grocer said.
However, it said it is likely to offset additional headwinds to cost, thanks to an increase in food volumes.
Tesco confirmed its plan of returning GBP5.00 billion to shareholders by way of special dividend and to make a one-off GBP2.50 billion pension contribution to reduce indebtedness.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
April 08, 2020 02:50 ET (06:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
1 Year Tesco (PK) Chart |
1 Month Tesco (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions