Headlines
Significant progress on all three transformation priorities
UK like-for-like sales growth of 0.9% in 4Q; Group like-for-like sales growth of 1.6% in 4Q
£6.2bn reduction in total indebtedness, including contribution from sale of Homeplus in Korea
Customer, colleague, supplier measures all improved
Guided by a clear purpose, 'serving shoppers a little better every day'
UK customer satisfaction up 5% over the course of the year
UK volumes up 3.3% in 4Q; UK transactions up 2.8% in 4Q
International volumes up 5.5% in 4Q
Achieved what we set out to do
£944m operating profit before exceptional items
Retail operating cash flow of £2.6bn
Initial £400m cost saving programme delivered
UK & ROI property now 47% freehold (+6%) following two further transactions in Feb 2016
Improving trends across the Group
Positive and improving like-for-like sales growth trends in all regions: UK, ROI, Europe and Asia
Improving sales performance in all formats and categories
Strong growth in Tesco Bank customer deposits and lending
Continued growth at Tesco Mobile, the UK's largest MVNO - now 4.6m customers
Clear commitment to the customer
The customer is and always will be our prime focus
Continuing to invest to improve the competitiveness of our offer
Seven exclusive fresh food brands launched in March 2016
