Additional Question 9
Comment on the performance of Tesco plc for the five years 1998 - 2002 as shown in the table that follows. Highlight anything exceptional you might find.
| Tesco plc Year ended February | 1998 | 1999 | 2000 | 2001 | 2002 |
|---|---|---|---|---|---|
| Financial Statistics £m | |||||
| Group turnover | 16,452 | 17,158 | 18,796 | 20,988 | 23,653 |
| Turnover by geographical area | |||||
| UK | 14,971 | 15,835 | 16,958 | 18,372 | 20,052 |
| Rest of Europe | 1,481 | 1,167 | 1,374 | 1,756 | 2,203 |
| Asia | 0 | 156 | 464 | 860 | 1,398 |
| Group underlying operating profit | 912 | 965 | 1,043 | 1,174 | 1,332 |
| UK | 875 | 919 | 993 | 1,100 | 1,213 |
| Rest of Europe | 37 | 48 | 51 | 70 | 90 |
| Asia | 0 | -2 | -1 | 4 | 29 |
| Profit on ordinary activities before taxation | 760 | 842 | 933 | 1,054 | 1,201 |
| Profit for the period | 532 | 606 | 674 | 722 | 830 |
| Tesco plc Rates of return | 1998 | 1999 | 2000 | 2001 | 2002 |
|---|---|---|---|---|---|
| Return on shareholders' funds | 21.30% | 21.30% | 20.90% | 22.70% | 23.20% |
| Return on capital employed | 18.70% | 17.20% | 16.10% | 16.60% | 16.10% |
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