Tesco PLC

Latest Results (17.12.2024):

Revenue Growth

In the first half of the 2024/25 financial year, Tesco PLC reported a revenue of £34,773 million, excluding VAT but including fuel. This marks a 2.9% increase compared to the same period in the previous year, where revenue stood at £33,801 million. The growth in revenue reflects Tesco's strong market position and effective customer engagement strategies.

Operating Profit Increase

Tesco PLC's operating profit for the first half of 2024/25 was £1,612 million, representing a 13.0% increase from the £1,426 million reported in the first half of 2023/24. This improvement in operating profit is attributed to the company's focus on cost management and operational efficiencies across its retail and banking operations.

Earnings Per Share

The adjusted diluted earnings per share (EPS) for Tesco PLC in the first half of 2024/25 increased by 23.7% to 14.45p, compared to 11.68p in the same period of the previous year. This significant rise in EPS is driven by higher adjusted operating profit, lower net finance costs, and the benefits of the ongoing share buyback program.

Dividend Growth

Tesco PLC declared an interim dividend of 4.25p per share for the first half of 2024/25, up from 3.85p per share in the first half of 2023/24. This increase in dividend reflects the company's strong financial performance and its commitment to returning value to shareholders.

Positive Outlook

Looking ahead, Tesco PLC has revised its retail adjusted operating profit expectation for the 2024/25 financial year to around £2.9 billion, up from the previous guidance of at least £2.8 billion. The company also anticipates generating retail free cash flow within the medium-term guidance range of £1.4 billion to £1.8 billion, underscoring its confidence in sustained growth and financial stability.