Five year summary


	2006¹	2007	2008	2009 Restated	2010
Financial statistics
Group sales (including VAT) (£m)	43,137	46,611	51,773	59,426	62,537
Revenue (excluding VAT) (£m)
UK	29,990	32,665	34,858⁶	37,650³	38,558
Rest of Europe	5,095	5,559	6,872	8,831⁵	8,704
Asia	4,369	4,417	5,552	7,048³	8,439
US	–	–	16⁶	206	349
Tesco Bank	–	–	–	163⁶	860
Total Group	39,454	42,641	47,298	53,898	56,910
Group operating profit² (£m)	2,280	2,648	2,791	3,169³	3,457
Group operating profit margin²	5.8%	6.2%	5.9%	5.9%	6.1%
Share of results of joint ventures and associates (£m)	82	106	75	110	33
Profit on sale of investment in associates	–	25	–	–	–
Net finance costs (£m)	(127)	(126)	(63)	(362)	(314)
Profit before tax (£m)	2,235	2,653	2,803	2,917³	3,176
Taxation (£m)	(649)	(772)	(673)	(779)	(840)
Minority interests (£m)	(6)	(7)	(6)	(5)	(9)
(Loss)/profit for the period from discontinued operation^4,5 (£m)	(10)	(18)	–	–	–
Profit for the financial year attributable to equity holders of the parent (£m)	1,570	1,892	2,124	2,133³	2,327

Underlying profit before tax⁵ (£m)	2,277	2,545	2,846	3,124	3,395

Enterprise value⁷ (£m)	30,841	40,469	37,656	35,907	41,442
Basic earnings per share⁸	20.20p	23.61p	26.95p	27.14p³	29.33p
Diluted earnings per share⁸	19.92p	23.31p	26.61p	26.96p³	29.19p
Dividend per share⁹	8.63p	9.64p	10.90p	11.96p	13.05p
Return on shareholders' funds¹⁰	24.9%	26.7%	25.1%	23.5%³	23.0%
Return on capital employed¹¹	12.7%	12.6%¹⁶	12.7%¹⁷	12.8%²⁰	12.1%
Group statistics
Number of stores	2,672	3,263	3,751	4,332	4,881
Total sales area – 000 sq ft¹²	55,215	68,189	76,338	88,451	93,985
Average employees	368,213	413,061	444,127	468,508	472,094
Average full–time equivalent employees	273,024	318,283	345,737	364,015	372,338
UK retail statistics
Number of stores¹⁸	1,898	1,988	2,115	2,282	2,482
Total sales area – 000 sq ft^12,18	25,919	27,785	29,549	31,285	32,991
Average store size (sales area – sq ft)^13,18	32,816	34,209	35,055	35,215	35,485
Average full–time equivalent employees	175,459	184,461	193,917	194,420	196,604
UK retail productivity (£)
Revenue per employee¹⁴	170,923	177,084	179,840	196,436³	196,120
Profit per employee¹⁴	10,190	11,292	10,814¹⁹	13,065³	14,303
Weekly sales per sq ft¹⁵	25.06	25.48	25.43	25.34³	25.22

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 fixed assets. Operating margin is based upon revenue excluding VAT.
3. The Group adopted IFRIC 13 'Customer Loyalty Programmes' and the amendments to IFRS 2 'Share-Based Payment' from 24 February 2008. Periods before this date have not been restated.
4. Consists of the net result of the Taiwanese business which was sold during 2007.
5. IFRS underlying profit excludes IAS 32 and IAS 39 ‘Financial Instruments’ – fair value remeasurements, the IAS 19 Group Income Statement charge, which is replaced by the ‘normal’ cash contributions for pensions, IAS 17 ‘Leases’ – impact of annual uplifts in rent and rent-free periods and IFRS 3 Amortisation charge from intangible assets arising on acquisition, IFRIC 13 'Customer Loyalty Programmes' - fair value of awards and exceptional items.
6. Results have been restated to reflect the US and Tesco Bank as separate segments.
7. Market capitalisation plus net debt.
8. Basic and diluted earnings per share are on a continuing operations basis.
9. Dividend per share relating to the interim and proposed final dividend.
10. Profit before tax divided by average shareholders’ funds.
11. 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.
12. Store sizes exclude lobby and restaurant areas.
13. Average store size excludes Express and One Stop stores.
14. Based on average number of full-time equivalent employees in the UK, revenue exclusive of VAT and operating profit.
15. Based on weighted average sales area and sales excluding property development.
16. Excludes one-off gain from ‘Pensions A-Day’, with this one-off gain ROCE was 13.6%.
17. 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.
18. Excluding Dobbies stores.
19. Excluding start-up costs in the US and Tesco Direct and adjusting average number of full-time equivalent employees in the UK to exclude US and Tesco Direct employees - profit per employee would be £11,317.
20. Excluding acquisition of Tesco Bank and Homever, and India start-up costs, and after adjusting for assets held for sale. Calculated on a 52 week basis, ROCE for 2008/9 is 12.8%.