
Bumper results for UK retailer…
By Andy McCue
Published: 21 September 2004 14:30 GMT
Tesco's push into telecoms and the continued success of its online shopping operation Tesco.com have contributed to bumper half year results for the retailer.
Overall, Tesco sales for the half year ended 14 August were up 12.2 per cent to £16.5bn with pre-tax profit up 24.4 per cent to £822m. The UK business accounted for much of this with sales up 11.5 per cent to £13.1bn and operating profit up 13.3 per cent to £707m.
While a group-wide 'Step-Change' efficiency savings programme contributed to the good figures, Tesco.com and the foray into telecoms services were also bright spots.
Just last month Tesco launched its no frills unlimited broadband service in the UK for £19.97 a month, following up on launches last year of fixed-line and mobile services.
Tesco said in its results statement: "We are now very competitive in mobiles, domestic fixed line and internet access. We now have a total of 650,000 customers in telecoms, with considerable scope for growth."
Tesco continues to lead the UK retail market online and Tesco.com sales grew by 27 per cent to £307m and profits increased by 95 per cent to £15m.
"We are attracting many new shoppers and average customer spend has increased by nearly seven per cent over the last three years," the results statement said.
Company A leading online travel retailer with a well known brand name. Despite current market trends, this company is doing exceptionally well and ...
INFORMATION - Established since 2001 - Massive acquisition over the last 8 years - Last year they turned over 150million - 750 employees - Profits up ...
Lead snr management and the project team to consensus on the project sys.scope to ensure a clear understanding of the areas of the business and ...
Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.
Managing a growing threat: An Executive's Guide to Web Application Security
5 Sources of Value Through a Telecom Expense Management Initiative
Adopting Server Virtualization for Business Continuity and Disaster Recovery
Business Continuity and Disaster Recovery with CA Recovery Management and VMware...
Stories from the web...
Copyright © 2008 CBS Interactive Limited. All rights reserved. Top of page
Peter Cochrane Peter Cochrane's Blog: How the telcos could save themselves Doomed network operators could thrive with a bit of innovation
Peter Cochrane Peter Cochrane's Blog: Facebook saves teen from prison Another unexpected impact of social networking