REG - Tesco PLC - Interim Results 2016/17 <Origin Href="QuoteRef">TSCO.L</Origin> - Part 5
05/10/2016 07:18
- Part 5: For the preceding part double click ID:nRSE7004Ld
AL7 1GA
Telephone 01992 632222
Financial Calendar
2017
Financial year-end 25 February
Preliminary results announced* 12 April
* Please note that this date is provisional and subject to change.
Appendix 1
Total Sales Performance at Actual Rates (Exc. VAT, Exc. Fuel)
1H2015/16 2H 2015/16 FY2015/16 1Q2016/17 2Q2016/17 1H 2016/17
UK & ROI (1.2)% (0.6)% (0.9)% 0.7% 1.7% 1.2%
UK (0.6)% (0.3)% (0.4)% 0.3% 1.0% 0.7%
ROI (13.5)% (5.1)% (9.3)% 8.7% 15.3% 11.9%
International (4.3)% (3.1)% (3.7)% 5.6% 16.5% 10.9%
Europe (8.8)% (3.6)% (6.2)% 8.2% 15.1% 11.6%
Asia 1.5% (2.5)% (0.5)% 2.8% 18.2% 10.1%
Tesco Bank (0.8)% 2.4% 0.8% 3.5% 7.2% 5.3%
Group (1.9)% (1.0)% (1.4)% 1.8% 4.7% 3.3%
Appendix 2
Total Sales Performance at Constant Rates (Exc. VAT, Exc. Fuel)
1H2015/16 2H 2015/16 FY2015/16 1Q2016/17 2Q2016/17 1H 2016/17
UK & ROI (0.6)% (0.3)% (0.5)% 0.3% 1.0% 0.6%
UK (0.6)% (0.3)% (0.4)% 0.3% 1.0% 0.7%
ROI (2.2)% 0.3% (1.0)% 0.2% (0.3)% (0.1)%
International 0.6% 3.1% 1.9% 3.6% 2.8% 3.2%
Europe 2.4% 2.2% 2.3% 2.4% 1.2% 1.8%
Asia (1.7)% 4.3% 1.3% 5.0% 4.8% 4.9%
Tesco Bank (0.8)% 2.4% 0.8% 3.5% 7.2% 5.3%
Group (0.4)% 0.4% 0.1% 1.1% 1.5% 1.3%
Note
These results have been reported on a continuing operations basis and exclude the results from our operations in Turkey.
Growth rates are all based on comparable days. For example, for the UK and ROI, these results are for the 26 weeks ending
27 August 2016 and 29 August 2015 respectively.
Appendix 3
Country Detail
Revenue(Exc. VAT, Inc. Fuel)
LocalCurrency (m) £m Average exchange rate Closing exchange rate
UK 20,465 20,465 1.000 1.000
ROI 1,223 984 1.243 1.171
Czech Republic 20,748 617 33.62 31.66
Hungary 294,389 757 388.8 361.9
Poland 5,388 996 5.409 5.069
Slovakia 690 555 1.243 1.171
Malaysia 2,181 389 5.612 5.293
Thailand 100,615 2,053 49.01 45.53
Memo:
Turkey 1,098 270 4.064 3.881
Appendix 4
UK Sales Area by Size of Store
August 2016 August 2015
No. of stores Millionsq ft % of total sq ft No. of stores Millionsq ft % of total sq ft
0 - 3,000 2,504 5.2 13.0% 2,474 5.1 12.3%
3,001 - 20,000 283 3.4 8.6% 289 3.5 8.4%
20,001 - 40,000 277 8.1 20.4% 283 8.3 20.0%
40,001 - 60,000 181 9.2 23.1% 202 10.1 24.4%
60,001 - 80,000 130 8.7 21.9% 127 8.9 21.4%
80,001 - 100,000 45 4.2 10.6% 50 4.6 11.1%
Over 100,000 9 1.0 2.4% 9 1.0 2.4%
Total1 3,429 39.9 100.0% 3,434 41.4 100.0%
Note
1. Excludes franchise stores.
Appendix 5
Actual Group Space - store numbers1
2015/16 year end As at 27 Aug 2016 Net gain/reduction2 Openings Closures/disposals Repurposing/extensions
Extra 252 252 - - - 1
Superstore 478 478 - 1 (1) -
Metro 177 176 (1) - (1) -
Express 1,732 1,734 2 8 (6) -
Dotcom only 6 6 - - - -
Total Tesco 2,645 2,646 1 9 (8) 1
One Stop3 779 783 4 12 (8) -
Dobbies 36 - (36) - (36) -
UK3 3,460 3,429 (31) 21 (52) 1
ROI 149 148 (1) - (1) -
UK & ROI3 3,609 3,577 (32) 21 (53) 1
Czech Republic3 201 200 (1) - (1) 1
Hungary 208 208 - - - -
Poland 440 437 (3) - (3) -
Slovakia 161 155 (6) - (6) 2
Europe3 1,010 1,000 (10) - (10) 3
Malaysia 62 65 3 3 - 1
Thailand 1,815 1,869 54 56 (2) 9
Asia 1,877 1,934 57 59 (2) 10
International3 2,887 2,934 47 59 (12) 13
Group3 6,496 6,511 15 80 (65) 14
UK (One Stop) 134 146 12 16 (4) -
Czech Republic 103 100 (3) - (3) -
Franchise stores 237 246 9 16 (7) -
Group store numbers above exclude the 168 stores in Turkey as at 27 August 2016.
Notes
1. Continuing operations.
2. The net gain/reduction reflects the number of store openings less the number of store closures/disposals.
3. Excludes franchise stores.
Actual Group Space - '000 sq ft1
2015/16 year end As at 27 Aug 2016 Net gain/reduction Openings Closures/disposals Repurposing/extensions
Extra 17,846 17,841 (5) - - (5)
Superstore 14,002 14,038 36 59 (23) -
Metro 2,005 1,993 (12) - (12) -
Express 4,031 4,040 9 19 (10) -
Dotcom only 716 716 - - - -
Total Tesco 38,600 38,628 28 78 (45) (5)
One Stop2 1,256 1,268 12 23 (11) -
Dobbies 1,652 - (1,652) - (1,652) -
UK2 41,508 39,896 (1,612) 101 (1,708) (5)
ROI 3,560 3,543 (17) - (17) -
UK & ROI2 45,068 43,439 (1,629) 101 (1,725) (5)
Czech Republic2 5,558 5,506 (52) - (1) (51)
Hungary 6,931 6,931 - - - -
Poland 9,688 9,667 (21) - (21) -
Slovakia 3,969 3,870 (99) - (72) (27)
Europe2 26,146 25,974 (172) - (94) (78)
Malaysia 4,164 4,134 (30) 35 - (65)
Thailand 15,536 15,551 15 213 (11) (187)
Asia 19,700 19,685 (15) 248 (11) (252)
International2 45,846 46,659 (187) 248 (105) (330)
Group2 90,914 89,098 (1,816) 349 (1,830) (335)
UK (One Stop) 185 199 14 20 (6) -
Czech Republic 96 94 (2) - (2) -
Franchise stores 281 293 12 20 (8) -
Group space numbers above exclude the 3,489k sq ft in Turkey as at 27 August 2016.
Notes
1. Continuing operations.
2. Excludes franchise stores.
Group Space Forecast to 25 February 2017 - '000 sq ft1
As at 27 Aug 2016 2016/17 year end Net gain/reduction Openings Closures/disposals Repurposing/extensions
Extra 17,841 17,740 (101) - - (101)
Superstore 14,038 14,090 52 52 - -
Metro 1,993 1,993 - - - -
Express 4,040 4,065 25 29 (4) -
Dotcom only 716 716 - - - -
Total Tesco 38,628 38,604 (24) 81 (4) (101)
One Stop2 1,268 1,264 (4) 29 (33) -
UK2 39,896 39,868 (28) 110 (37) (101)
ROI 3,543 3,543 - - - -
UK & ROI2 43,439 43,411 (28) 110 (37) (101)
Czech Republic2 5,506 5,480 (26) - (26) -
Hungary 6,931 6,899 (32) - (2) (30)
Poland 9,667 9,578 (89) - (64) (25)
Slovakia 3,870 3,859 (11) - (11) -
Europe2 25,974 25,816 (158) - (103) (55)
Malaysia 4,134 3,952 (182) - - (182)
Thailand 15,551 15,510 (41) 305 - (346)
Asia 19,685 19,462 (223) 305 - (528)
International2 45,659 45,278 (381) 305 (103) (583)
Group2 89,098 88,689 (409) 415 (140) (684)
UK (One Stop) 199 264 65 65 - -
Czech Republic 94 94 - - - -
Franchise stores 293 358 65 65 - -
Notes
1. Continuing operations.
2. Excludes franchise stores.
Appendix 6
Tesco Bank Income Statement
1H 2016/171£m 1H2015/161£m
Revenue
Interest receivable and similar income 301 283
Fees and commissions receivable 202 195
503 478
Direct Costs
Interest payable (89) (81)
Fees and commissions payable (12) (1)
(101) (82)
Gross profit 402 396
Other expenses:
Staff costs (83) (84)
Premises and equipment (37) (40)
Other administrative expenses (108) (108)
Depreciation and amortisation (44) (43)
Provisions for bad and doubtful debts (41) (35)
Operating profit before exceptional items 89 86
Restructuring and other exceptional items2 (67) -
Operating profit 22 86
Net finance costs: movements on derivatives and hedge accounting (3) (7)
Net finance costs: interest (2) (2)
Share of (loss)/profit of joint ventures and associates 5 2
Profit before tax 22 79
Notes
1. These results are for the 6 months ended 31 August 2016 and the previous period comparison is made with the 6 months
ended 31 August 2015.
2. Restructuring and other exceptional items in 2016/17 consist of a £45m increase in customer redress provision and £22m
restructuring costs.
This information is provided by RNS
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