Tesco's Irish turnover soars by 10pc to €2.7bn
Wednesday April 18 2007
The figures, released yesterday, show that Tesco raked in €2.7bn worth of sales in the Irish market to the year ended February 2007.
However, the Irish operation's growth rate is slightly below the 10.7pc growth Tesco recently reported across its international operations for the same period.
Tesco doesn't disclose profits or margins in Ireland "for competitive reasons", and has no plans to do so in the future, Tesco Ireland chief executive Tony Keohane said yesterday.
Tesco's personal finance offering was a particularly strong growth driver, with online car insurance sales increasing by 200pc, while the number of Tesco credit cards in circulation has topped 27,000.
Organics
Within Tesco's retail outlets, fresh produce sales grew by 11pc, while new Ireland spent 34pc more on organics and 54pc more on tropical fruits.
Meanwhile, Tesco's non-food business increased to 25pc of the group's Irish turnover, up from 24pc in 2006.
Mr Keohane said the first seven weeks of the 2007 financial year had gone "very well". "We'd be very happy if we could get growth to 2006's level again this year," he added.
Tesco's plans for 2007 incude opening five new supermarkets - Abbeyfeale, Celbridge (replacement), Limerick (Coonagh Cross), Claremorris and Westport - as well as two express stores.
Mr Keohane said that Tesco hoped to add "one or two" new petrol outlets during 2007. "Petrol is absolutely part of our long term game, but it's not our core business and we're confined by the sites we can do it on," Mr Keohane said.
Tesco's Irish business includes retailing, a dotcom operation and personal finance, and the group is preparing ot enter the mobile phone market.
Mr Keohane said he didn't see his company expanding into any new sectors in the short term. "I think it would be better for us to focus on what we have and develop that."
Tesco Ireland employs 12,000 people across its 95 stores and other operations.
- Laura Noonan
