TERRY LEAHY TERRY LEAHY Chief Executive Chief Executive
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TERRY LEAHYTERRY LEAHYChief ExecutiveChief Executive
• Fastest organic growth rate
• Strong results
• Progressing with our clear strategy
• Fastest organic growth rate
• Strong results
• Progressing with our clear strategy
HIGHLIGHTSHIGHLIGHTS
• Strong UK core business
• Non Food
• Retailing services
• International growth
• Strong UK core business
• Non Food
• Retailing services
• International growth
FOUR PART STRATEGYFOUR PART STRATEGY
STRONG UK CORE BUSINESSSTRONG UK CORE BUSINESS
00/0100/0197/9897/98 98/9998/99 99/0099/00 01/0201/02
369369 377377
447447
501501
408408
UK Operating Profit (£m)UK Operating Profit (£m)Up 12.1%Up 12.1%
NON FOODNON FOOD
RETAILING SERVICESRETAILING SERVICES
INTERNATIONAL GROWTHINTERNATIONAL GROWTH
TESCO LEADS ON VALUETESCO LEADS ON VALUE
TESCO LEADS ON VALUETESCO LEADS ON VALUE
8585
9090
9595
100100
97/9897/98 98/9998/99 99/0099/00 00/0100/0196/9796/97 01/0201/02
12.5%12.5%
UK SALESUK SALES
Compound Volume GrowthCompound Volume Growth
24%24%20%20%
10%10%
0%0%H1H1 H2H2 H1H1 H2H2 H1H1 H2H2 H1H1H2H2 H2H2 H1H1
Volume Growth in HalfVolume Growth in Half
01/0201/0298/9998/99 99/0099/00 00/0100/0196/9796/97 97/9897/98
FOR THE CUSTOMERFOR THE CUSTOMER
CLUBCARDCLUBCARD
STEP CHANGESTEP CHANGE
• Budgeted savings exceeded
• On track to deliver £200m savings in
full year
• Budgeted savings exceeded
• On track to deliver £200m savings in
full year
STEP CHANGESTEP CHANGE
STEP CHANGESTEP CHANGE
NEW DEPOTSNEW DEPOTS
DEVELOPMENT PROGRAMMEDEVELOPMENT PROGRAMME
REGENERATIONREGENERATION
EXPRESSEXPRESS
98/9998/99 99/0099/00 00/0100/01 01/02F01/02F 02/03F02/03F
1717
4545
8585
2727
150150No of Express StoresNo of Express Stores
NON FOODNON FOOD
NON FOODNON FOOD• Market leader in volume sales of Health & Beauty
• DVD sales up by over 300%
• Home Entertainment sales up 40%
• Ladieswear sales up 54%
• Market leader in volume sales of Health & Beauty
• DVD sales up by over 300%
• Home Entertainment sales up 40%
• Ladieswear sales up 54%
• 48% market share on launch of Harry Potter paperback• 48% market share on launch of Harry Potter paperback
NUTRICENTRENUTRICENTRE
EXTRAEXTRA
TESCO PERSONAL FINANCETESCO PERSONAL FINANCE
Operating Profit (£m)Operating Profit (£m)
H1H1 H2H2 H1H1 H2H2 H1H1 H2H298/9998/99 99/0099/00 00/0100/01 01/0201/02
H1H1
2020
88 88
00 1155
1414
TESCO PERSONAL FINANCETESCO PERSONAL FINANCE
• 2.25m customer accounts
• 1m credit cards
• Instant travel insurance
• Cheque deposits at checkout
• 2.25m customer accounts
• 1m credit cards
• Instant travel insurance
• Cheque deposits at checkout
TESCO.COMTESCO.COM
TESCO.COMTESCO.COM
• Fastest organic growth rate
• Strong results
• Progress in line with clear strategy
• Fastest organic growth rate
• Strong results
• Progress in line with clear strategy
CONCLUSIONCONCLUSION
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