Tesco Says Trading Performance In Line With Management's View
Tesco plc (TSCO.L, TSCDY.PK) said Monday that, conditional upon approval from the UK Listing Authority, the company will publish a circular and a prospectus containing information on the background and reasons for its proposed merger with Booker Group plc.
Tesco will confirm that, since the third-quarter and Christmas Trading Update released on 11 January 2018, the Group's trading performance has been in line with management's expectations and that it expects to deliver at least 1.575 billion pounds Group operating profit before exceptional items in respect of the financial year ending 24 February 2018.
The company confirmed that a final dividend of 2.0 pence per Tesco Share in respect of the financial year ending 24 February 2018 is expected to be proposed for shareholder approval at the 2018 Tesco Annual General Meeting.
Separately, Tesco announced that upon completion of the merger with Booker Group plc (expected to be 5 March 2018), Charles Wilson will be appointed as CEO of Tesco's retail and wholesale operations in the UK & ROI. Matt Davies will continue as CEO of UK & ROI until completion, when he will step down and after supporting a handover, will leave the Group at the end of April 2018. (dpa)
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