Company Earnings Update 3 minutesRegister for Free AccessTESCO (LSE: TSCO) FY18 Results: Profits Surge as Turnaround Efforts Continue Coresight Research April 12, 2018 Executive Summary Tesco announced a net profit of £1,208 million for FY18, representing a significant rebound from last year’s loss of £54.0 million. Revenues increased by 2.8% to £57,491 million. Statutory operating margin expanded by 140 basis points to 3.2%. The company said that it is on track to reach its previously announced target of an operating margin of 3.5%–4.0% by FY20. UK comparable sales were up by 2.2% during the year. Tesco said that there was consistent strength in fresh food, while there was a 0.4% drag from general merchandise. Diluted EPS was 14.7 pence compared to a loss per share of 0.5 pence last year. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Responses to Inflation—Fewer Shoppers Are Buying Less: US Consumer Survey InsightsUS Consumer Tracker: Amazon Records January SlowdownMore Active Consumers Proliferate Ahead of Memorial Day: US Consumer Tracker 2023, Week 22February 2023 US Retail Sales: Total Sales See Second Month of Strong Expansion