Tesco to report “another impressive year” – broker

Tesco PLC (LSE:TSCO) is expected to report “another impressive year” of trading after analysts predicted underlying profits would come in ahead of guidance. Jefferies said it reckons Tesco will report earnings of £2.76 billion, beating out company guidance of £2.75 billion and representing a 10.6% jump year-on-year. Revenues are expected to rise by 5.5% to £69.4 billion, leading to Jefferies estimating earnings per share will rise to 24.03p from 21.85p. Analysts at the US bank believe Tesco has proven over ...