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Daytrader
All the additional staff employed were done so on a temporary contracts and as the permanent staff returned from sick leave they were released, as per their contract. These were one off costs in the main however they have stated today that they expect 20% of the costs incurred this year due to COVID will apply next year, so circa £225m. I can't see how they will weigh heavily on profitability for years. I wouldn't expect them to play a part on the P&L after this financial year
Those huge extra Covid costs are going to weigh heavily on the profitsbility for years to come and drag like an anchor - unless all those extra staff taken on are volunteers?
This share is an absolute dog. Every year they disappoint and say next year will be better. Cannot see the share price being any higher next year but hopefully they can maintain the dividend? Said it before but this is just a hold if you rely on dividends for income and do not need the price to go up
Well good tight range today still ending the day down -2% hope now the share price can move higher. Looking forward to my 5.95p Divi hopefully that should help the share price...
20 May 2021: Ex-dividend date
21 May 2021: Record date
11 June 2021: Dividend Reinvestment Plan Election date
2 July 2021: Dividend payable
million
Dividend per share remained the same.
I was hoping for flat profits and a 7p final dividend but unfortunately the £900 Billion C19 costs
didn't allow that to happen
Looking good now going into the last hour not sure if we can do the 130p by close of markets today well you never know .
Hopefully better day tomorrow been very slow today ...
The management claimed that div is i n line with last year's div? Issue share capital is 20% less this year and div is more or less same. It does not add up. It means the div was reduced by 20%. Am i right in my assumption?
I don’t see many negatives on today’s results. Booker will be running at full capacity soon and activity likely to increase as staycations are looking more likely now for the masses. That should also apply to the shop floor too.
A ‘line in the sand’ has been drawn now and any future earnings will be compared to today’s RNS.
This investment for many is to underpin their portfolio and not to see big capital gains in a short period of time.
Keep collecting the Clubcard points and the dividends . :)
Diluted EPS (adjusted for share consolidation)
11.94p
RW
you were looking at Diluted EPS of 7.54p
on 18th June.
Hopefully this will show C19 costs dissipating
Rosewall- take my approach and write some quick and sarcastic
ug
'' a smaller profit decline''
you cannot 'expect' as we didn't know the C19 costs.
Today's results are a mixed bag. I was expecting better sales and a smaller profit decline. To improve sales by 8% and profit to fall 20% is quite alarming. However the Covid costs are a one off and going forward the next year should be better all round. Staycations should help boost sales/petrol. The massive rise in online will fall away to some extent, but many customers will have enjoyed the experience and will stay online for the longer term. The Clubcard prices campaign has been great and encouraged many younger and price conscious consumers to join the scheme - this should continue. Definitely one to keep (for a year at least) and to enjoy the divvies and prospect of better profits in future.
The drop of 20% in profits wiped out the profit per share benefit of having about 20% fewer shares.
Hopefully there will be a strong profits increase this year, to get the share price/dividends on an upward trend
Well now that the selling in the morning is behind us, now we can move forward hoping for a 130p + close today
With spring in the air now, I'm looking forward to the Divi
Ftse positive and Dow positive. I feel positive about Tesco and I guess so do so many who have bought in today
for the coming year.
Profits down £200 million
2020 Covid 19 related costs £900 million.
You work it out
https://uk.finance.yahoo.com/news/tesco-profits-plunge-20-covid-094131255.html
I have no vested interest in Tesco,my wife works at the Hatfield extra and has been there 21 years.All i would say is in that time i have witnessed a solid employer.My wife was a former team leader,paid a considerable amount of money as compensation when the role was axed.Likewise i believe when premium time was altered it was phased in over a period.The SAYE has never let my wife down.
To anybody on here with negative thoughts and comments,go work in the building and constuction trades.Friday morning you have employment,by 4pm the same day you dont.
sainsburys colleagues get 3%
Mansinor
"perhaps he could take a leaf from the Coop CEO."
Sorry, we don't sell cocaine and the rest that went with an earlier Co-op CEO.
As for charity, it isn't. It is marketing and public relations. Two vital aspects of any company. You clearly don't remember the bad press that all supermarkets got when they binned food when there were homeless beggars outside on the street.
As for being paid full wages while isolating, would you prefer them to turn up for work?
Why am I even wasting my time even typing this, there are some people who are beyond thought.
T2R
Just to say, in an earlier RNS, the Covid costs were stated at £750 million. Most of that has been absorbed into the results.
Leas
"Dividend being kept the same a little disappointing"
I haven't looked at the numbers in details but, EPS was 7+p and the dividend is 9+p. If I am right then the dividend is not covered by earnings and that always makes me worried. That is eating into the buffer.
I haven't read the reports yet but, if 2% is in it then that is a really good move. The sharp end of the business has done a phenomenal job over the lat 1+ years.
I suspect tesco metro haven't done well over the past year and that will change with the reopening. But Tesco need to look into improving on-line delivery efficiency, on-line business is great and would allow tesco to vastly expand product offering that would not need to take up shop space. I can clearly see areas Tesco can improve, hope the management can too, and have the right people to execute. Bought the dip this morning, if it dips again when US opens, happy to add more, better Tesco than leaving money in the bank with 0.01% interest.
Buying on dips today.