Five year summary

Summary five year record	UK GAAP		IFRS
	2004 53 wks	2005	2005	2006¹	2007	2008
Financial statistics
Group sales (including VAT) (£m)	33,557	37,070	36,957	43,137	46,611	51,773
Revenue (excluding VAT) (£m)
UK	24,760	27,146	27,146	29,990	32,665	34,874
Rest of Europe	3,385	3,818	3,818	5,095	5,559	6,872
Asia	2,669	3,010	2,902	4,369	4,417	5,552
	30,814	33,974	33,866	39,454	42,641	47,298
Operating profit² (£m)
UK	1,486	1,666	1,556	1,788	2,083	2,097
Rest of Europe	171	249	243	263	324	400
Asia	121	149	153	229	241	294
Total Group	1,778	2,064	1,952	2,280	2,648	2,791
Underlying profit – UK GAAP³	1,708	2,029	n/a	n/a	n/a	n/a
Underlying profit – IFRS⁴	n/a	n/a	1,925	2,277	2,545	2,846
Basic earnings per share⁵	15.05p	17.72p	17.52p	20.20p	23.61p	26.95p
Diluted earnings per share⁵	14.93p	17.50p	17.30p	19.92p	23.31p	26.61p
Dividend per share⁶	6.84p	7.56p	7.56p	8.63p	9.64p	10.90p
Return on capital employed (ROCE)⁷	10.40%	11.50%	11.80%	12.70%	12.6%¹⁰	12.9%¹¹
Group statistics
Number of stores	2,318	2,334	2,334	2,672	3,263	3,751
Total sales area – 000 sq ft⁸	45,402	49,135	49,135	55,215	68,189	76,338
Average employees	310,411	335,750	335,750	368,213	413,061	444,127
Average full-time equivalent employees	223,335	242,980	242,980	273,024	318,283	345,737
UK retail statistics
Number of stores	1,878	1,780	1,780	1,898	1,988	2,115¹³
Total sales area – 000 sq ft⁸	23,291	24,207	24,207	25,919	27,785	29,549¹³
Revenue per employee⁹	162,459	166,534	166,534	170,923	177,084	179,840
Weekly sales per sq ft¹²	22.48	23.89	23.89	25.06	25.48	25.43

1. Results for the year ended 25 February 2006 include 52 weeks for the UK and ROI and 14 months for the majority of the remaining international businesses.

2. Operating profit includes integration costs and profit/(loss) arising on sale of property-related items.

3. UK GAAP underlying profit excluded net profit/(loss) on disposal of fixed assets, integration costs and goodwill amortisation.

4. IFRS underlying profit excludes IAS 32 and IAS 39 ‘Financial Instruments’ – Fair value remeasurements, the IAS 19 Income Statement charge for pensions, which is replaced by the ‘normal’ cash contributions, and the IAS 17 ‘Leases’ – impact of annual uplifts in rent and rent-free periods. For the years 2003 to 2005, the above information is presented under UK GAAP as previously published. If IFRS had been applicable for these years the main adjustments would have been IFRS 2 ‘Share-Based Payment’, IFRS 3 ‘Business Combinations’ and IAS 19 ‘Employee Benefits’.

5. Diluted and basic earnings per share are on a continuing operations basis.

6. Dividend per share relating to the interim and proposed final dividend.

7. The numerator is profit before interest, less tax. The denominator is the calculated average of net assets plus net debt plus dividend creditor less net assets held for sale.

8. Store sizes exclude lobby and restaurant areas.

9. Based on average number of full-time equivalent employees in the UK, and revenue exclusive of VAT.

10. Excludes one-off gain from Pensions A-Day, with this one-off gain, ROCE was 13.6%.

11. Using a ‘normalised’ tax rate before start-up costs in the US and Tesco Direct and excluding the impact of foreign exchange in equity and our acquisition of a majority share of Dobbies.

12. Based on weighted average sales area and sales excluding property development.

13. Excluding stores in the US and Dobbies.