Tesco reports steady profits rise. Let them run the country!

[simba1]

http://news.bbc.co.uk/1/hi/business/7643415.stm
Harsh economic times and they are still turning a pretty profit. Why not let them run UK plc as well.

[G-Rich]

Do they have a petrol station at nearly every store???

I rest my case.

[Timmy35]

P&L is a historic statement. This profit was mostly made before the economic hard times got started. We're just at the beginning not the end.

Next years profits will be the interesting to see.

[Puff Puff]

Timmy35 said:

P&L is a historic statement. This profit was mostly made before the economic hard times got started. We're just at the beginning not the end.

Next years profits will be the interesting to see.

"The company (Tesco) made group profit before tax of £1.43bn in the 26 weeks to 23 August, an 11.3% increase on the same period last year."

So not that historic.

[rude-boy]

Timmy35 said:

P&L is a historic statement. This profit was mostly made before the economic hard times got started. We're just at the beginning not the end.

Next years profits will be the interesting to see.

And have Tesco run the country? No thanks, they have a business model which works for them but there are many 1,000's who would say that it isn't exactly great for their suppliers, shoopers and so on.

[Timmy35]

Puff Puff said:

Timmy35 said:

P&L is a historic statement. This profit was mostly made before the economic hard times got started. We're just at the beginning not the end.

Next years profits will be the interesting to see.

"The company (Tesco) made group profit before tax of £1.43bn in the 26 weeks to 23 August, an 11.3% increase on the same period last year."

So not that historic.

Yes it is. Unless you've invented a time machine.

[sleep envy]

G-Rich said:

Do they have a petrol station at nearly every store???

I rest my case.

please do that

petrol retailers only make a small profit on fuel sales, the majoirty of the profit comes from kiosk sales

[lingus75]

They sometimes make selfish decisions, which enable them to profit and benefit from other peoples hard work and graft. However, Tesco seem to be better at it then some business sectors

[captainzep]

We're sucked into the weekly Tesco shopping tractor-beam.

Quality has become more of an issue recently we reckon.

Little problems here and there, particularly with fresh stuff and their cheap electrical stuff rarely lasts long. So more local baker/butcher/greengrocer shopping for us now.

[sleep envy]

Timmy35 said:

P&L is a historic statement. This profit was mostly made before the economic hard times got started. We're just at the beginning not the end.

Next years profits will be the interesting to see.

TBH they've pushed their 'energy' projects very hard indeed, so much so that developing other strategies for income have been shelved for now

they will still post profits next year without a doubt

[simba1]

captainzep said:

We're sucked into the weekly Tesco shopping tractor-beam.

Quality has become more of an issue recently we reckon.

Little problems here and there, particularly with fresh stuff and their cheap electrical stuff rarely lasts long. So more local baker/butcher/greengrocer shopping for us now.

Why should we care if the screw suppliers in China, India,France,etc if they benefit the country. In any case most electricals are made in China/Taiwan and quality is fine.

[sleep envy]

simba1 said:

[Why should we care if the screw suppliers in China, India,France,etc if they benefit the country.

because they screw suppliers in the UK and not just farming and foodstuff industries

know anything about reverse open e-tenders?

[captainzep]

simba1 said:

captainzep said:

We're sucked into the weekly Tesco shopping tractor-beam.

Quality has become more of an issue recently we reckon.

Little problems here and there, particularly with fresh stuff and their cheap electrical stuff rarely lasts long. So more local baker/butcher/greengrocer shopping for us now.

Why should we care if the screw suppliers in China, India,France,etc if they benefit the country. In any case most electricals are made in China/Taiwan and quality is fine.

Don't care who they screw. Just not impressed when I pay good money for crap. Bargain basement DVD player, paper shredder, stopped working within weeks. So I don't buy the stuff anymore. As far as food goes, I'll support local business if Tesco can't beat them on quality. -Which increasingly, they can't.

[Puff Puff]

Timmy35 said:

Puff Puff said:

Timmy35 said:

P&L is a historic statement. This profit was mostly made before the economic hard times got started. We're just at the beginning not the end.

Next years profits will be the interesting to see.

"The company (Tesco) made group profit before tax of £1.43bn in the 26 weeks to 23 August, an 11.3% increase on the same period last year."

So not that historic.

Yes it is. Unless you've invented a time machine.

I see. Your definition of 'historic' is up to five weeks ago.

[briSk]

captainzep said:

Just not impressed when I pay good money for crap.

captainzep said:

Bargain basement DVD player, paper shredder, stopped working within weeks. So I don't buy the stuff anymore.

no you're paying hardly any money for crap. you're paying the same hardly anything for crap that you'd pay in any number of other shops. and just like the other shops you have just the same choice...

(and were you actually surpirised when your £15 dvd player didn't last???)

[Republik]

Am I the only person who f@#ing hates Tesco?

[Timmy35]

Puff Puff said:

Timmy35 said:

Puff Puff said:

Timmy35 said:

P&L is a historic statement. This profit was mostly made before the economic hard times got started. We're just at the beginning not the end.

Next years profits will be the interesting to see.

"The company (Tesco) made group profit before tax of £1.43bn in the 26 weeks to 23 August, an 11.3% increase on the same period last year."

So not that historic.

Yes it is. Unless you've invented a time machine.

I see. Your definition of 'historic' is up to five weeks ago.

Yes, most people define historic as in the past. The we have another term 'present' for now, and for the time that is neither past, nor the present, we have a term called 'future'.

[chris watton]

captainzep said:

simba1 said:

captainzep said:

We're sucked into the weekly Tesco shopping tractor-beam.

Quality has become more of an issue recently we reckon.

Little problems here and there, particularly with fresh stuff and their cheap electrical stuff rarely lasts long. So more local baker/butcher/greengrocer shopping for us now.

Why should we care if the screw suppliers in China, India,France,etc if they benefit the country. In any case most electricals are made in China/Taiwan and quality is fine.

Don't care who they screw. Just not impressed when I pay good money for crap. Bargain basement DVD player, paper shredder, stopped working within weeks. So I don't buy the stuff anymore. As far as food goes, I'll support local business if Tesco can't beat them on quality. -Which increasingly, they can't.

Whwn we come back to the UK, we are shocked at the food prices in Tesco! A lot of produce isn't even local, and shipped in from the lowest bidders all over the world, after squeezing local suppliers/farmers until there's no profit in it.
Quite a contrast to here, where everything in the local super store is local, and cheap. My wife collects all the hazelnuts from our garden (forest!) and sells them to the super store - they are very happy to supply local produce. Foreign foods are more expensive, a tin of Heinz baked beans being €2! - but local equivilents cost next to nothing.

Still miss sausage rolls and pork pies though, and a decent Indian!

(Am not saying things are better, BTW, food bills are half of what they are in the UK, but the income tax bill is also double - swings and roundabouts...)

[briSk]

Republik said:

Am I the only person who f@#ing hates Tesco?

of course not. it's the most popular thing to do in the UK. well after hating foreigners and 'rich b4stards in banks'.

i sometimes wonder if i am alone in having a balanced opinion on them!

(you'll not that the UK situation has changed little and that it's the gorwth of the overseas business that is adding to the profits).

i think they will do well in recession as they match UK demographic and most of the offer is 'essential items' but i may be wrong. waitrose and their goody goody offer seems to have shagged them. no one gives a fvck if they do move the honey bees up and down the mountain now that petrol costs a fortune and your pension has disappeared..

[GT03ROB]

sleep envy said:

because they screw suppliers in the UK and not just farming and foodstuff industries

know anything about reverse open e-tenders?

I may be missing something here but how does that standard business practice result in suppliers being screwed??