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“Tesco Appear to be Back on Track, but Could Brooker Deal Stun Recovery?”
Jordan Hiscott, Chief Trader at ayondo markets
“Tesco’s full year earnings are due out tomorrow, with analysts predicting operating profits to come in at £1.2 billion. While this would beat last year’s performance of £944 million, it’s still only a fraction of the £4billion profit they recorded six years ago. Since then, we’ve seen the dual effect of the accounting scandal and negative profit warnings drag the share price to a 14-year low of 137p, leading Warren Buffet, the third largest shareholder, to call his 4.1% stake his ‘worst ever investment’.
“Since then, subsequent board changes and the appointment of a new CEO seem to be producing positive results. Tesco’s share price has moved higher to 195p and profitability has drastically improved. However, there appears to still be trepidation among investors for the supermarket giant, stemming from the recent acquisition of cash and carry specialist Brooker. The £3.7 billion purchase, regarded as an elevated level in some circles, has raised the question among investors – will the deal stun the recovery growth of Tesco going forward?”
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EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’
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FreedomPay Drives Global Merchant Innovation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
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FIS® announced a strategic partnership with Glia to deliver advanced AI-powered customer engagement capabilities across FIS' Digital One suite
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