Company Earnings Update 6 minutesRegister for Free AccessTesco (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? Register for a free user account. This document was generated for Other research you may be interested in: Has the Chip Shortage Ended? What Does This Mean for Retailers?Earnings Insights 4Q23, Week 2: Alibaba, Amazon and CVS See Strong Sales Growth; Under Armour Witnesses Weak DemandConsumers Turn Away From Socializing: China Consumer Survey InsightsHarnessing GenAI: Strategic Approaches To Combat Risk—Insights from The Lead Summit 2024