Shares in UK supermarket giant Tesco have risen more than 5% this week, after the retailer reported very strong results for its 2018 financial year. On Wednesday this week, Tesco reported a 34% increase in full-year operating profit to £2.2bn (€2.6bn).
Shares in UK supermarket giant Tesco have risen more than 5% this week, after the retailer reported very strong results for its 2018 financial year.
On Wednesday this week, Tesco reported a 34% increase in full-year operating profit to £2.2bn (€2.6bn).
Height of its pomp
Operating profit margins in the business soared to a very healthy 3.5%, a level not seen in years since Tesco was at the height of its pomp with almost 40% of the UK grocery market.
Tesco said profit margins in the second half of the year were closer to 4%.
Group sales for Tesco increased almost 12% year on year to £57bn (€66bn).
Irish performance
Meanwhile, shares in Kerry Group are up almost 2% this week to just over €98, while Greencore shares are also up 2% in the week to £2.09. Glanbia shares lifted 1% this week to €17.60.
Aside from these examples, it has generally been a difficult week on equity markets, with share prices in a host of companies falling.
The continuing uncertainty around Brexit is certainly not helping to ease investor fears.
Shares in FBD Insurance have fallen 4% in the last week to €8.80, while shares in Aryzta, the speciality bakery giant, are down almost 7% to €1.15.
Following last week’s jump, shares in Donegal Investment Group have traded down in recent days to €9.40.
Meanwhile, shares in fruit and vegetable giant Total Produce are down almost 5% this week at €1.64.
Shares in agri-services group Origin Enterprises fell more than 1% this week to €5.27, while IPL Plastics shares are down 4% to C$10.25.
On oil markets, the price of Brent crude oil has shown some upward movement in the last two weeks and is currently trading close to $71/barrel.
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