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Annual report and financial statements 2005

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Tesco A nnual report and financial statements 2005

www.tesco.com/corporate

Cover: Rama 1 hypermarket, Bangkok, Thailand

Tesco PLC, Tesco House, Delamare Road, Cheshunt, Hertfordshire EN8 9SL

Year ended February

2001

2002

2003

2004

53 weeks

2005

Group enterprise value (£m) 3

21,590

21,290

16,896

23,866

27,853

Underlying diluted earnings per share 2

10.66p

12.14p

13.98p

16.31p

18.30p

Underlying earnings per share 2

10.87p

12.33p

14.10p

16.45p

18.53p

4.98p

5.60p

6.20p

6.84p

7.56p

Return on shareholders’ funds 4

22.7%

23.2%

23.3%

23.6%

23.9%

Return on capital employed 5

11.0%

10.8%

10.2%

10.4%

11.5%

Dividend per share

CO N T E N T

1 Financial highlights

2 Operating and

financial review

Tesco works hard to create

value for customers to earn

their lifetime loyalty.

1 7 Directors’ remuneration report

3 2 Statement of directors’

responsibilities

3 3 Independent auditors’ report

We do this in each of the

four parts of our strategy:

Reconciliation of movements

in shareholders’ funds

Core UK

2,291

2,318

2,334

39,944

45,402

49,135

152,210

171,794

188,182

223,335

242,980

UK retail statistics

Number of stores

692

Average store size (sales area – sq ft) 8

729

1,982

1,878

1,780

17,965

Total sales area – 000 sq ft 7

18,822

21,829

23,291

24,207

27,636

28,576

29,455

30,890...