Tesco profits

[Keyser Soze]

Re: Tesco profits

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[Eric Cartman]

Re: Tesco profits

“Explain it to me?”

Read the annual accounts on www.investegate.co.uk, using the TSCO EPIC code. All publicly available and free. It will explain it to you.

Accounting isn’t difficult: a few rules, three structures to understand (P and L, Cashflow statement and a balance sheet.), and some average arithmetic to interpret it.

Read the accounts backwards though. That is, read the footnotes first for dirty tricks, or clever accountants rule-bending and chicanery, and the first two of three items above should tell you what you need to know. You’ll be bored as an accounting graduate staring out of the window “doing audit” for their first two years but you’ll get it I’m sure.

Accounting isn’t hard. Or you wouldn’t see so
many average IQ dolly birds taking the courses at Uni as you do these days. The clever ones go to the big 4. The really smart ones will work in offshore tax advisory and wealth management. But most of the cattle will be lucky enough to earn a teachers salary before being AI’d out of existence or impregnated by a senior accountant / boss. A high life it is not.

Or impregnated by the AI if it deems them worthy.

[pipster]

Re: Tesco profits

https://www.bbc.co.uk/news/business-68776913

The UK's biggest supermarket chain said pre-tax profits hit £2.3bn, up from £882m, while sales rose by 4.4% to £68.2bn in the year to 24 February.

So, sales up by just over 4% whilst profits up nearly three-fold. Is it just me or do I detect rip-off Britain at work here, under the cover of "inflation"?

Why shop at Tesco's then ?, there are other options, including CostCo, ASDA, Coop, Splott market. Lidl / Aldi my goto places when in the UK. Compare the UK to Spain and you will notice how much you are getting ripped off - and how willingly people are allowing themselves to be ripped off.

You have have choices and options, you cant blame Tesco for trying to make money - they are a business - and you are the victim - shop elsewhere. If you dont you are thick - and that is just what they want. Thick customers who cant think for themselves and are willing to give Tesco all your spare cash / credit

[jeepster]

Re: Tesco profits

Why shop at Tesco's then ?, there are other options, including CostCo, ASDA, Coop, Splott market. Lidl / Aldi my goto places when in the UK. Compare the UK to Spain and you will notice how much you are getting ripped off - and how willingly people are allowing themselves to be ripped off.

You have have choices and options, you cant blame Tesco for trying to make money - they are a business - and you are the victim - shop elsewhere. If you dont you are thick - and that is just what they want. Thick customers who cant think for themselves and are willing to give Tesco all your spare cash / credit

Splott Market has been shut for 2yrs.

[pipster]

Re: Tesco profits

Thanks for the update - but you get the idea I'm sure ?

[jeepster]

Re: Tesco profits

Thanks for the update - but you get the idea I'm sure ?

Yeh just being a bit pedantic.:thumbup:

[pipster]

Re: Tesco profits

Yeh just being a bit pedantic.:thumbup:

I remember as a kid going down Bessemer road market on Sunday mornings. I presume they still have the car boot market there ? - not been down there for a very long time.

[Gofer Blue]

Re: Tesco profits

Why shop at Tesco's then ?, there are other options, including CostCo, ASDA, Coop, Splott market. Lidl / Aldi my goto places when in the UK. Compare the UK to Spain and you will notice how much you are getting ripped off - and how willingly people are allowing themselves to be ripped off.

You have have choices and options, you cant blame Tesco for trying to make money - they are a business - and you are the victim - shop elsewhere. If you dont you are thick - and that is just what they want. Thick customers who cant think for themselves and are willing to give Tesco all your spare cash / credit

I haven't shopped in Tesco's for over 20 years since the accounting scandal at the time and the arrogant attitude of the directors.

[life on mars]

Re: Tesco profits

Inflation heading back to 2% , which deserves recognition ..

Time for the government to put pressure on them , sadly that is not easy unless they windfall tax them , I'd call it repayment of the furlough scheme , that kept many afloat ..

To be fair Aldi / Lidl prices are also up and an easy 20%. .

Whats the next Pm and his deputy lady saying about all this ???????????

[blue sky]

Re: Tesco profits

Please explain how an increase in sales of 4.4% can lead to pre-tax profits increasing from £882 million to £68 billion?

The explanation is in the BBC article in the OP. ‘Price pressures’ hit margins. Tesco has contracts with growers and suppliers and would have seen its margins squeezed as food price inflation hit 20% in late 2022/early 2023. These latest figures are a return to normal profitability, as you can see in this link from Tesco itself.

https://www.tescoplc.com/investors/reports-results-and-presentations/financial-performance/five-year-record/

I walk/drive past Tesco to shop at Morrisons. I don’t like Tesco’s links to the Tories or their borderline fraudulent deals, or their data-collecting clubcard. They were pioneers of these manipulation techniques and I can’t abide the company.

But as I wrote yesterday, profiteering is very difficult in the grocery business as there are at least 10 large food retail companies in the UK who mainly compete on prices.

[SLUDGE FACTORY]

Re: Tesco profits

Tesco are tory filth

https://en.wikipedia.org/wiki/Shirley_Porter

[pipster]

Re: Tesco profits

Ticks all your trigger points
Conservative ✅ , Female ✅ , Jewish ✅

[Keyser Soze]

Re: Tesco profits

Ticks all your trigger points
Conservative ✅ , Female ✅ , Jewish ✅

I never noted he was a racist anti-Semite before. Is he? What is that based on?

[pipster]

Re: Tesco profits

Do you not think he has a problem with tories, women or Jewish people?
Have you been here long ?

[SLUDGE FACTORY]

Re: Tesco profits

Ticks all your trigger points
Conservative ✅ , Female ✅ , Jewish ✅

Conservative