Full Year 2019 Tesco PLC Earnings Debt Investor Update Call Transcript
Hello and welcome to the Tesco debt investor call. (Operator Instructions). And just to remind you, this conference call is being recorded.
Today I am pleased to present Alan Stewart, CFO; and Lynda Heywood, Group Treasurer. Please begin your meeting.
Great. Thank you very much and good afternoon, everybody. And thank you for taking the time to get a little bit more behind our results for the year ended February 2018. As usual, and I'm on the first page of the deck, I will begin with the performance of the group. And I am pleased to say we delivered broad-based improvements across the whole of the business. Our momentum in sales growth has continued, up 11.5% at actual exchange rates with 2018/2019 representing our third full year of sales growth for the group. Our results include 51 weeks of Booker as we completed the merger right at the start of the financial year on March 5, 2018.
Once again we delivered strong profit growth, up 34% year on year to GBP2.206 billion representing a full-year group margin of 3.45
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