Tesco Fiscal Year 2022's Pretax Profit, Revenue Rose; Launches GBP750 Million Buyback
13 Abril 2022 - 3:56AM
Dow Jones News
By Sabela Ojea
Tesco PLC said Wednesday that fiscal 2022 pretax profit rose as
revenue including fuel increased ahead of market views, and said it
is committed to buying back 750 million pounds ($975.1 million) of
its shares.
The British grocer posted a pretax profit of GBP2.03 billion for
the year ended Feb. 26 compared with GBP636 million a year
earlier.
Revenue including fuel rose to GBP61.3 billion from GBP57.9
billion. It was anticipated to rise to GBP61.20 billion, taken from
the company's compiled consensus.
The board declared a dividend of 10.90 pence for the year up
from 9.15 pence for the previous financial year.
The company said that it expects to close its fiscal 2023 with a
lower adjusted operating profit in retail and its banking division
as a result of higher prices and new investments to strength its
price position in the market.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 13, 2022 02:41 ET (06:41 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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