Tesco 2005 Annual Report Download - page 67

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Year ended February 2001 2002 2003 2004 2005
53 weeks
Group enterprise value (£m) 321,590 21,290 16,896 23,866 27,853
Underlying diluted earnings per share 210.66p 12.14p 13.98p 16.31p 18.30p
Underlying earnings per share 210.87p 12.33p 14.10p 16.45p 18.53p
Dividend per share 4.98p 5.60p 6.20p 6.84p 7.56p
Return on shareholders’ funds 422.7% 23.2% 23.3% 23.6% 23.9%
Return on capital employed 511.0% 10.8% 10.2% 10.4% 11.5%
Group statistics
Number of stores 6907 979 2,291 2,318 2,334
Total sales area – 000 sq ft 6/7 28,362 32,491 39,944 45,402 49,135
Full-time equivalent employees 152,210 171,794 188,182 223,335 242,980
UK retail statistics
Number of stores 692 729 1,982 1,878 1,780
Total sales area – 000 sq ft 717,965 18,822 21,829 23,291 24,207
Average store size (sales area – sq ft) 827,636 28,576 29,455 30,890 31,677
Full-time equivalent employees 9113,998 121,272 133,051 152,408 163,006
UK retail productivity £
Turnover per employee 10 159,678 163,443 160,157 162,459 166,534
Profit per employee 10 9,649 10,002 9,748 10,013 10,392
Wages per employee 10 16,087 16,821 17,020 17,615 17,871
Weekly sales per sq ft 7/11 21.75 22.43 21.86 22.48 23.89
Tesco PLC 65
1Excludes integration costs and goodwill
amortisation. Operating margin is based
upon turnover exclusive of VAT.
2Underlying profit, underlying earnings
per share and underlying diluted
earnings per share exclude net
profit/(loss) on disposal of fixed
assets, integration costs and goodwill
amortisation.
3Market capitalisation plus net debt.
4Underlying profit divided by average
shareholders’ funds.
5The numerator is profit before interest,
less tax. The denominator is the
calculated average of net intangibles
plus net tangible fixed assets plus net
investments in JVs and associates plus
net working capital and long-term
provisions. 2004 ROCE has been
restated (previously 10.5%) to reflect
the effect of UITF 17 and 38 (note 1).
6In addition, there are 31 stores operated
by our Hymall joint venture in China,
which have 2,637,000 sq ft of sales
area.
7Store sizes exclude lobby and
restaurant areas.
8Average store size excludes Express
and T&S stores.
9Based on average number of full-time
equivalent employees in the UK.
10 Based on turnover exclusive of VAT,
underlying operating profit and total
staff cost per full-time equivalent
employee.
11 Based on weighted average sales
area and sales excluding property
development.
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