Company Earnings UpdateTesco (LSE: TSCO) FY19 Results: Hits FY20 Margin Target in Second Half Coresight Research April 11, 2019 Executive Summary Tesco reported FY19 total sales of £63.9 billion, up 11.0% year over year on a constant-currency basis (increasing 11.2% as reported) and missing the consensus estimate of €64.5 billion recorded by StreetAccount. Tesco’s FY19 adjusted operating margin came in at 3.45% versus the company’s long-term aim to hit a 3.5-4.0% margin in FY20. In 2H19, the group operating margin reached 3.96% (3.79% ex Booker). Tesco is focusing on strengthening its balance sheet and delivering free cash flow. It expects a dividend cover level of about two times earnings in FY20. Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Global Outreach Summit 2025 Insights: India’s Digital Leap in Apparel Sourcing and SustainabilityThree Months to Singles’ Day 2025: Simplified Promotions, Government Support and Payment Ecosystem Convergence To Fuel GrowthAnalyst Corner: Chinese Consumers Still Embrace International Brands—If Those Brands Deliver: Three Key Findings from a New Study, with John HarmonConsumer Sentiment—The Big Surprise in a Week of Shocks; Plus, Apparel Shopping in Focus: US Consumer Survey Insights
