trending Market Intelligence /marketintelligence/en/news-insights/trending/oFzVg0Q90c0W8eZQIdjKgA2 content esgSubNav
In This List

Tesco reports H1 earnings ahead of expectations

Blog

Christopher & Banks Corporation – tracking the early-warning signals of credit risk

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Tesco reports H1 earnings ahead of expectations

Tesco Plc on Oct. 4 reported a sharp rise in pretax profit for the first half of fiscal 2018 as the U.K.'s leading supermarket operator by revenue continued to reap the benefits of a turnaround plan.

The company reported that pretax profit for the six-month period ended Aug. 26 jumped to £562 million from £71 million in the same period a year earlier, while diluted EPS climbed to 5.21 pence from 0.42 pence. Statutory revenue increased 3.7% year over year to £28.3 billion from £27.3 billion.

All the figures were ahead of expectations. According to S&P Capital IQ consensus estimates for the first half, Tesco was expected to report pretax profit of £423.50 million and normalized EPS of 4 pence on revenue of £28.17 billion.