ARE YOU ENCOURAGED BY TESCO’S UPBEAT OUTLOOK?
RICHARD HUNTER HARGREAVES LANSDOWN
“By definition Tesco comes with high expectations and these numbers have resulted in something of a hung jury. Whilst the well flagged strategy of expanding overseas is intended to offset an increasingly saturated UK marketplace, this comes at a cost.”
TONY SHIRET CREDIT SUISSE
“UK trading profit was £1,155m which was slightly ahead of our estimates. Elsewhere, Europe and Asia were both below our expectations and the US was in-line. However, the overall tone seems quite optimistic, as Tesco has now weathered the worst of very tough markets.”
SAM HART CHARLES STANLEY
“We believe future growth potential in international and retailing services (Tesco Bank etc) to be significant, and increasingly regard the core UK food retailing business as a ‘cash-cow’ being used to fund growth in these areas. In the UK, the retail environment remains subdued, but consumers are showing signs of greater optimism.”