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News Release

London

Tesco half year report: “Nothing screams confidence more than its announcement to resume dividends”

Says JLL’s Head of Retail & Leisure, Tim Vallance


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Tesco has today announced a sharp increase in its first-half pre-tax profits to £562m and a sales increase of 3.3 percent.

Commenting on the grocery giants half year report, Tim Vallance, Head of Retail & Leisure, JLL UK, said: “Tesco’s turnaround quite clearly shows that in spite of past struggles, it is a force to be reckoned with. Brexit fuelled inflation has created a problem for other supermarket players, but Tesco has managed its performance by battling to keeps prices low. Not succumbing to such pressures in a challenging market, is a true testament to the shopping giant’s resilience. And, nothing screams confidence more than its announcement to resume dividends to its shareholders with a 1p pay out, which it hasn’t done since 2014.”

“We knew that 2017 would be a tough year for retailers with headwinds including rising costs and falling consumer confidence, but results like this reminds us that robust, positive management can help any retailer increase profitable revenue and keep competition on its toes.”