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2011(b) 2012(a) 2013 2014 2015(q)
Financial statistics (£m)
Sales including VAT excluding IFRIC 13 67,074 71,402 70,712 70,894 69,654
Revenue excluding IFRIC 13
UK 40,766 42,803 43,582 43,570 43,573
Europe 9,192 9,866 9,319 9,267 8, 515
Asia 9,802 10,828 10,045 10,309 9,884
US 495 – – – –
Tesco Bank 919 1,044 1,021 1,003 1,024
Group revenue excluding IFRIC 13 61,174 64,541 63,967 6 4,149 62,996
Trading profit
UK 2,504 2,478 2,272 2,191 467
Europe 527 529 329 238 164
Asia 605 737 733 692 565
US (186) – – – –
Tesco Bank 264 225 191 194 194
Group trading profit 3,714 3,969 3,525 3,315 1,390
Operating profit(c) 3,917 4,182 2,382 2,631 (5,792)
Operating profit margin(c) 6.4% 6.5% 3.7% 4.1% (9.2%)
Share of post-tax profits/(losses) of joint ventures and associates 57 91 72 60 (13)
Net finance costs (333) (235) (397) (432) (571)
Profit/(loss) before tax 3,641 4,038 2,057 2,259 (6,376)
Taxation (864) (874) (529) (347) 657
Profit/(loss) for the year from continuing operations 2,777 3,164 1,528 1,912 (5,719)
Discontinued operations (106) (350) (1,504) (942) (47)
Profit/(loss) for the year 2,671 2,814 24 970 (5,766)
Attributable to:
Owners of the parent 2,655 2,806 28 974 (5,741)
Non-controlling interests 16 8(4) (4) (25)
Underlying profit before tax – continuing operations(d) 3,853(o) 4,149(o) 3,280 3,054 961
Other financial statistics
Diluted earnings/(losses) per share – continuing operations 34.25p 39.23p 19.06p 23.72p (70.24)p
Underlying diluted earnings per share – continuing operations 36.26p 40.31p 33.74p 32.05p 9.42p
Dividend per share(e) 14.46p 14.76p 14.76p 14.76p 1.16p
Return on capital employed (‘ROCE’)(f) 12.9%(h) 14.7%(i) 14.5%(p) 13.6%(p) 4.1%
Total shareholder return(g) 6.7% (3.0)% 2.1% 3.7% (9.5)%
Net debt (£m) 6,790 6,838 6,597 6,597 8,481
Enterprise value (£m)(j) 39,462 32,324 36,578 33,597 28,415
Group retail statistics
Number of stores 5,265(k) 6,049 6,653 7,305 7, 817
Total sales area – 000 sq. ft.(l) 103,172(k) 110,563 106,040 109,572 110,474
Average employees 488,347 514,615 506,856 510,444 506,984
Average full-time equivalent employees 382,049 401,791 388,375 391,868 386,086
UK retail statistics
Number of stores 2,715 2,979 3,146 3,378 3,561
Total sales area – 000 sq. ft.(l) 36,722 39,082 40,495 41,823 42,236
Average full-time equivalent employees 200,966 205,852 213,304 217,158 215,747
Revenue per employee – £(m) 202,850 207,931 204, 319 200,637 201,963
Weekly sales per sq. ft. – £(n) 24.95 24.86 24.15 23.33 22.41
(a) Excludes Japan and the US.
(b) Excludes Japan.
(c) Operating profit includes restructuring costs and profit arising on sale of fixed assets. Operating margin is based upon revenue excluding IFRIC 13.
(d) See glossary for definitions.
(e) Dividend per share relating to the interim and proposed final dividend.
(f) See glossary for definitions.
(g) See glossary for definitions. Measured over a 5 year period.
(h) Includes Japan and the US.
(i) Includes the US.
(j) Market capitalisation plus net debt.
(k) Includes franchise stores but excludes Japan.
(l) Store sizes exclude lobby and restaurant areas.
(m) Based on average number of full-time equivalent employees in the UK and revenue excluding IFRIC 13.
(n) Based on weighted average sales area and average weekly sales, excluding Dobbies stores.
(o) Includes profits/losses on property-related items.
(p) Excludes China.
(q) 53 weeks.
Five-year record
156 Tesco PLC Annual Report and Financial Statements 2015