Tesco: annual EPS up 14%

(CercleFinance.com) - Tesco reports 2023-24 adjusted EPS that is up 14% at 23.
41 pence, as well as adjusted operating profit up 12.8% to £2.83bn, while FCF from distribution activities is down 3.3% to £2.06bn.

At almost £61.5bn, the British food retailer's sales (excluding VAT and fuel) rose by 7.4%, with sales growth of 6.8% LFL for distribution activities alone.

A final dividend of 8.25 pence per share will be proposed to shareholders, bringing the total dividend for the past year to 12.10 pence per share, up 11% on the previous year.

For the year ahead, Tesco expects its retail business to deliver an adjusted operating profit of at least £2.8bn, with free cash flow of around £1.4bn to £1.8bn.


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