Positive sales2 and profit3 growth, strong cash5 generation
· Group sales2 up 3.3% to £25.2bn - seventh consecutive quarter of growth
· UK like-for-like sales7 up 2.2%; transactions up 0.4%; volumes8 up 0.3%
· Strong fresh food volume growth in the UK of 1.5% driven by ongoing improvements in our offer
· Group operating profit before exceptional items3 up 27.3% to £759m; UK & ROI up 21.1% to £471m
· Group operating margin3 up to 2.7% from 2.2% last year; on track for 3.5-4.0% ambition by 2019/20
· Improved profit margin in Central Europe (up 132 basis points) and in Asia (up 146 basis points)
· Retail operating cash flow5 up 19.3% to £1.1bn; Retail free cash flow5 of £586m
· Triennial pension review concluded; annual contributions to increase by £15m to £285m from April 2018
· Interim dividend of 1.0p per share reflects improved performance and Board confidence
· Statutory revenue up 3.7% to £28.3bn; Profit before tax up £491m to £562m
https://www.investegate.co.uk/tesco-plc ... 00056178S/