Tesco lifts full‑year profit outlook and expands share buyback
Tesco announced that its full‑year adjusted operating profit target has been raised to a range of £3.15 bn‑£3.30 bn. The supermarket reported first‑half adjusted operating profit of £1.78 bn, a 6.5% increase year‑on‑year, and sales of £33.78 bn, up 2%. It also increased its share‑repurchase programme to £950 million and highlighted strong online growth, with digital sales up 8% and Whoosh rapid‑delivery sales jumping 37%.
Why it matters
The company expects higher earnings and cash generation, which the market has already rewarded with a share‑price rise of about 4% (the company’s own statement says the outlook improvement drove the move). The expanded buyback signals confidence in cash flow and may support the stock’s valuation.
Key facts
- 1Full‑year adjusted operating profit guidance was lifted to £3.15 bn‑£3.30 bn. cityam.com
- 2First‑half adjusted operating profit rose 6.5% to £1.78 bn. proactiveinvestors.com
- 3First‑half sales increased 2% to £33.78 bn. proactiveinvestors.com
- 4The share‑buyback programme was increased to £950 million. proactiveinvestors.com
- 5Digital grocery sales grew 8% in the half‑year. proactiveinvestors.com
- 6Whoosh rapid‑delivery sales jumped 37% during the period. investing.com
Summary written by AlphAI from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.