Tesco 2009 Annual Report Download - page 127

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125
FINANCIAL STATEMENTS
Tesco PLC Annual Report and Financial Statements 2009
To find out more go to
www.tesco.com/annualreport09
IFRS
2005 20061 2007 2008 2009
53 weeks
Enterprise value7 (£m) 27,910 30,841 40,469 37,656 35,907
Basic earnings per share8 17.52p 20.20p 23.61p 26.95p 27.50p
Diluted earnings per share8 17.30p 19.92p 23.31p 26.61p 27.31p
Dividend per share9 7.56p 8.63p 9.64p 10.90p 11.96p
Return on shareholders’ funds10 23.2% 24.9% 26.7% 25.1% 23.9%
Return on capital employed11 11.8% 12.7% 12.6%16 12.9%17 13.0%20
Group statistics
Number of stores 2,334 2,672 3,263 3,751 4,332
Total sales area – 000 sq ft12 49,135 55,215 68,189 76,338 88,451
Average employees 335,750 368,213 413,061 444,127 468,508
Average full-time equivalent employees 242,980 273,024 318,283 345,737 364,015
UK retail statistics
Number of stores 1,780 1,898 1,988 2,11518 2,28221
Total sales area – 000 sq ft12 24,207 25,919 27,785 29,54918 31,28521
Average store size (sales area – sq ft)13 31,677 32,816 34,209 35,05518 35,21521
Average full-time equivalent employees 163,006 175,459 184,461 193,917 194,420
UK retail productivity (£)
Revenue per employee14 166,534 170,923 177,084 179,840 196,436
Profit per employee14 9,564 10,190 11,292 10,81419 13,065
Weekly sales per sq ft15 23.89 25.06 25.48 25.43 26.21
7 Market capitalisation plus net debt.
8 Basic and diluted earnings per share are on a continuing operations basis.
9 Dividend per share relating to the interim and proposed final dividend.
10 Profit before tax divided by average shareholders’ funds.
11 The numerator is profit before interest, less tax. The denominator is the calculated average of net assets plus net debt plus dividend creditor less net assets held for sale.
12 Store sizes exclude lobby and restaurant areas.
13 Average store size excludes Express and One Stop stores.
14 Based on average number of full-time equivalent employees in the UK, revenue exclusive of VAT and operating profit.
15 Based on weighted average sales area and sales excluding property development.
16 Excludes one-off gain from ‘Pensions A-Day’, with this one-off gain ROCE was 13.6%.
17 Using a ‘normalised’ tax rate before start-up costs in the US and Tesco Direct and excluding the impact of foreign exchange in equity and our acquisition of a majority share of Dobbies.
18 Excluding 53 US stores and 22 Dobbies stores.
19 Excluding start-up costs in the US and Tesco Direct and adjusting average number of full-time equivalent employees in the UK to exclude US and Tesco Direct employees – profit per
employee would be £11,317.
20 Excluding acquisition of TPF and Homever, and India start-up costs, and after adjusting for assets held for sale. Calculated on a 52 week basis, ROCE for 2008/9 is 12.8%.
21 Excluding 24 Dobbies stores.