Tesco 2001 Annual Report Download - page 42

40 TESCO PLC
Year ended February 1997 1998 11999 2000 2001
Financial statistics £m
Group turnover including VAT 14,984 17,779 18,546 20,358 22,773
Turnover excluding VAT
UK 13,118 14,971 15,835 16,958 18,372
Rest of Europe 769 1,481 1,167 1,374 1,756
Asia – – 156 464 860
13,887 16,452 17,158 18,796 20,988
Operating profit 2
UK 760 875 919 993 1,100
Rest of Europe 14 37 48 51 70
Asia – – (2) (1) 4
774 912 965 1,043 1,174
Operating margin 2
UK 5.8% 5.8% 5.8% 5.9% 6.0%
Rest of Europe 1.8% 2.5% 4.1% 3.7% 4.0%
Asia – – (1.3)% (0.2)% 0.5%
Total Group 5.6% 5.5% 5.6% 5.5% 5.6%
Share of profit/(loss) from joint ventures – (6) 6 11 21
Net interest payable (24) (74) (90) (99) (125)
Profit 3750 832 881 955 1,070
Ireland integration costs – (63) (26) (6) –
Goodwill amortisation – – (5) (7) (8)
Net loss on disposal of discontinued operations 4– (8) – – –
Net loss on disposal of fixed assets – (1) (8) (9) (8)
Profit on ordinary activities before taxation 750 760 842 933 1,054
Taxation (230) (228) (237) (259) (288)
Minority interests ––1–1
Profit for the financial year 520 532 606 674 767
Adjusted diluted earnings per share 37.83p 8.84p 9.37p 10.18p 11.31p
Adjusted earnings per share 8.03p 9.05p 9.59p 10.36p 11.53p
Dividend per share 3.45p 3.87p 4.12p 4.48p 4.98p
Net worth – £m 53,890 3,903 4,377 4,798 5,392
Return on shareholders’ funds 620.1% 21.3% 21.3% 20.9% 21.1%
Return on capital employed 717.1% 18.7% 17.2% 16.1% 15.8%
Net assets per share 860p 59p 65p 70p 78p
Group statistics
Number of stores 758 781 821 845 907
Total sales area – 000 sq ft 16,747 18,254 21,353 24,039 28,362
Full-time equivalent employees 98,463 119,127 126,914 134,896 152,210
UK retail productivity £
Turnover per employee 9146,326 149,799 151,138 156,427 161,161
Profit per employee 98,478 8,755 8,771 9,160 9,649
Wages per employee 914,222 15,079 15,271 15,600 16,087
Weekly sales per sq ft 10/11 19.74 20.48 21.05 21.43 22.01
UK retail statistics
Number of stores 568 618 639 659 692
Total sales area – 000 sq ft 11 14,036 15,215 15,975 16,895 17,965
Average store size (sales area – sq ft) 12 26,300 26,600 26,654 27,720 28,573
Full-time equivalent employees 13 89,649 99,941 104,772 108,409 113,998
Share price (pence)
Highest 123 180 202 197 286
Lowest 88 113 157 156 169
Year end 116 172 177 169 271
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 Average store sizes exclude Metro
and Express stores.
13 Based on average number of full-
time equivalent employees in the UK.