Tesco have posted a profit of almost 1.1 billion Pounds this morning.

That's not turover, it's pure profit.

That is truly astonishing.

Do you think:
a) It is truly inspiring and brings wealth, employment and choice to this and other nations?
cool.gif Is it insidious profiteering that degrades communities and takes advantage of poverty in 3rd world countries?
c) Have I missed something unsure

Your thoughts please.

I wonder what the farmers make of it. I know the farmers are always getting handouts and mostly subsidised, but regardless - when they are forced to sell milk at 1p profit for 20 litres or whatever it is that they make this must hurt!!

Pure greed on the part of tesco. That's one view...

Blooming good business is another view...

The Banks are no better either!

I don't know all the in's and out's but I personaly like tesco's there well priced and there own products are not too cheap and nasty (except for the really cheap baked beans! ). they always seem to have what we want too.

I like them, if they can make that much money then well done but I like to see them give a little back like for example Richard Branson is giving ALL train profits to research into cleaner fuels!

[quote name='tdiplc' post='386536' date='Oct 3 2006, 10:26 AM']Tesco have posted a profit of almost 1.1 billion Pounds this morning.

That's not turover, it's pure profit.

That is truly astonishing.

Do you think:
a) It is truly inspiring and brings wealth, employment and choice to this and other nations?
cool.gif Is it insidious profiteering that degrades communities and takes advantage of poverty in 3rd world countries?
c) Have I missed something unsure.gif

Your thoughts please.[/quote]

Yes, it is indeed astonishing. Tesco's management team have tremendous vision and are seeking to build a global empire (hence Tesco now in Czech Republic and Thailand). They also want to stretch the brand as far as they can, once they got consumers to trust "tesco" for groceries, they are now selling insurance, mobile phone tariffs etc. Some research done a while back suggested most people would buy a car from "tesco" if they started selling cars, as they would perceive "tesco" to be MORE honest and trustworthy than a mainstream car dealer.

Yes, amazing choice of products instore, but also bad for us, since we are faced with an array of choices, there is such a thing as too much choice. Out of town supermarkets have led to the decline of the traditional high street, the butchers, the bakers, the corner shop. Economies of scale and buying power have led to farmers and suppliers being squeezed beyond limits.

tesco is taking over the world!

i heard they are opening a few sample stores in the US

lets be honest.

They have put the 'small buisness' out of buisness.. nowadays if i see an actual butchers shop its a novelty (and i buy lots there).

They sell most things, not just food, but clothes, electronics etc - and have even gone into banking, insurance etc.

The truth is - if their financial services had been a subsiduary, and all the spurious things away from the actual supermarket were reported seperatley, the number wouldnt be as big - but they'd still have killed the high-street shop.

With all the extra stuff they offer, and the inherent laziness of the british public, im not surprised - however, what it means is more companies going out of buisness, and less choice for the consumer, which i think is a bad thing...

Funny you should mention Tesco going into the Czech Republic, I was wandering around one of their stores there yesterday, and it's pretty much a Tesco, Ikea, Halfords, Dixons, and PC World all rolled into one - I've never seen a Tesco in this country on that level of products that they sell.

The one thing that we did notice though was that prices were similar to those over here, not really sure what the average income is over there but they're pretty much paying the same as what we are over here. Also I never noticed any Tesco value brands to be honest, a few of the things which were native products over there seemed cheap though, other items such as the electronics stuff, ie a DVD player, started at £50 - wheresa you can pick them up here for £20 now - makes you wonder why we get the cheaper stuff like that when it would be more beneficial over there. Just gets more customers here I guess by boxshifting who then go on to make impulse buys while they're in there.

[quote name='Fidgits' post='386557' date='Oct 3 2006, 11:41 AM']lets be honest.

They have put the 'small buisness' out of buisness.. nowadays if i see an actual butchers shop its a novelty

but they'd still have killed the high-street shop.

With all the extra stuff they offer, and the inherent laziness of the british public, im not surprised - however, what it means is more companies going out of buisness, and less choice for the consumer, which i think is a bad thing...[/quote]

I have to agree actualy, It's a shame that local shops go under but I personaly Use the Local butcher and Fruitery that are next door to my work, quality is alot better but then so are the prices. I, in all honesty, wouldn't use them if i din't work here because of the time factor and local councills around here charge £1 for 20mins parking and its just more hassel when you can go to Tesco's for everything eaisaly.

Tesco also supplies the MOD food outlets, i.e NAAFI in germany and around the world.

i like TESCO, i was a apprentice butcher for them many moons ago, good company to work for, i think its good that there doing so well, being British and all that

And that is for 6 months of trading not a whole year!

Will any of the devotees of 99 octane stop buying it because of the profit, I think not.

According to the [url="http://news.bbc.co.uk/1/hi/business/5401494.stm#top"]BBC[/url] one of the biggest rise in profits is from outside the UK where they have 949 outlets. As a UK based company that should be good for balance of trade figures. The growth in "home shopping" is also showing big increases in profits.

What all these numbers don't say is what the turnover was, revenue without VAT was £ 20.7 billion so the profit is only 5.3% before tax. Hardly blatant profiteering IMHO.

[url="http://www.tescocorporate.com/images/pr_interims06final_0.pdf"]INTERIM RESULTS HERE[/url] if anyone is interested.

Huge profits Indeed!

I think they should do more to bring down prices and give a little back to the consumer!

[quote name='puresilk' post='386574' date='Oct 3 2006, 12:45 PM']Huge profits Indeed!

I think they should do more to bring down prices and give a little back to the consumer!

[/quote]

Yep starting with fuel

[quote name='fatpieman69' post='386564' date='Oct 3 2006, 12:23 PM'][quote name='Fidgits' post='386557' date='Oct 3 2006, 11:41 AM']
lets be honest.

They have put the 'small buisness' out of buisness.. nowadays if i see an actual butchers shop its a novelty

but they'd still have killed the high-street shop.

With all the extra stuff they offer, and the inherent laziness of the british public, im not surprised - however, what it means is more companies going out of buisness, and less choice for the consumer, which i think is a bad thing...[/quote]

I have to agree actualy, It's a shame that local shops go under but I personaly Use the Local butcher and Fruitery that are next door to my work, quality is alot better but then so are the prices. I, in all honesty, wouldn't use them if i din't work here because of the time factor and local councills around here charge £1 for 20mins parking and its just more hassel when you can go to Tesco's for everything eaisaly.
[/quote]
we have a lot of farm shops around here - i like it because they sell local produce (from other farms too) and the meat is absolutley fresh - and you can see the animals grazing...

personaly i think they deserve a round of aplause...

But also they are falling victim to the worst part of the british society..... they are being persecuted for doing well.

In america everyone would be praising them etc etc... but here we look at ways of reducing their success.

its sad really, and is a big reason why i am looking to relocate my company outside of the uk within 10 years

Like I said above that profit before tax is only 5.3% of turnover. Corporation Tax will account for 30% of that so that's a cool £ 327.6M to the Govt reducing the profit for the share holders to 3.7% of turnover. Also bear in mind they have colllected £2 billion in VAT and paid 12.8% of all wages in NI as well.
[quote name='TheDon' post='386597' date='Oct 3 2006, 02:56 PM']its sad really, and is a big reason why i am looking to relocate my company outside of the uk within 10 years[/quote]
Agreed mate you can avoid being crippled by the tax man as well.

Good for them, but I truly feel for the smaller suppliers they exploit (farmers etc) and the local shops that have suffered due to their dominance and imposing their will on them.

I wonder what their Corprorate Social Responsibility policy is?

As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?

Personally I cant stand Tesco. Last bread I purchased dried in no time.........Sainsbury on a Sunday afternoon after the club anytime.( must admit bought TV/DVD Combo there 3 weeks ago)

[quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']I wonder what their Corprorate Social Responsibility policy is?

As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]

Surely they are already putting back into the comunity by bringing us their product, or to put it better - supplying us all we need. they are obviously putting enough into the comunity for people to trust and buy from them...

of course it could always be better and cheaper, but the quality prevails.. jobs could be seen as comunity favourable policy as well as buying from british farmers rather than just european

when i was in the czech republic(lived there for 5 years).Tesco pretty much dictated terms as far as local planning was concerned.A town called Hurka which is 10 mins from town was a residential area,very nice and my halls was not far from there.Tesco was interested in building and they were rejected planning wise.Tesco then built a new swimming pool,sports centre within a minute walk from the residence,guess what months later the store was built.The average income in the czech republic was nothing and proff's were literally on the bread line and still are.The prices are the same as hear if not more expensive,but then its the same in india,if you want a c class merc in dehli,it will cost £60k,and there are tons of them,its one of the poorest countries in the world.

[quote name='TheDon' post='386617' date='Oct 3 2006, 04:32 PM'][quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']
I wonder what their Corprorate Social Responsibility policy is?

As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]

Surely they are already putting back into the comunity by bringing us their product, or to put it better - supplying us all we need. they are obviously putting enough into the comunity for people to trust and buy from them...

of course it could always be better and cheaper, but the quality prevails.. jobs could be seen as comunity favourable policy as well as buying from british farmers rather than just european
[/quote]

Thats true Chris but many truly great companies tithe a proportion of their profits to go to charity or local communities etc. Very fair play

[quote name='tdiplc' post='386536' date='Oct 3 2006, 10:26 AM']Tesco have posted a profit of almost 1.1 billion Pounds this morning.

That's not turover, it's pure profit.

That is truly astonishing.

Do you think:
a) It is truly inspiring and brings wealth, employment and choice to this and other nations?
cool.gif Is it insidious profiteering that degrades communities and takes advantage of poverty in 3rd world countries?
c) Have I missed something unsure

Your thoughts please.[/quote]

Rather a bizzare statement.....considering?

What does the "plc" in TDiplc stand for?

[quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]
Is this a pre-cursor to a big announcement that TDI Plc are going to make a large charitable donation to the local community

Would you like to tell us TDi's EBIT % for the financial year 2005?

No?

It was considerably more than Tesco....by a long, long way

[quote name='tdiplc' post='386620' date='Oct 3 2006, 04:42 PM'][quote name='TheDon' post='386617' date='Oct 3 2006, 04:32 PM']
[quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']
I wonder what their Corprorate Social Responsibility policy is?

As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]

Surely they are already putting back into the comunity by bringing us their product, or to put it better - supplying us all we need. they are obviously putting enough into the comunity for people to trust and buy from them...

of course it could always be better and cheaper, but the quality prevails.. jobs could be seen as comunity favourable policy as well as buying from british farmers rather than just european
[/quote]

Thats true Chris but many truly great companies tithe a proportion of their profits to go to charity or local communities etc. Very fair play
[/quote]

What about their vouchers for school equipment etc..... its definately a step towards the right direction.

But i definately think something such as scholarships for people without the means to go to uni but the brains and tallent. With a work incentive scheme bringing them a wage, maybe investing in creches to allow young single mums to work in their stores and become role models to their children rather than developing the culture of benifit mums and their children who think the only way to get ahead is to have a kid and go on benifits.

Maybe their gestures dont have to be completely selfless, just benificial to those other than the shareholders etc

[quote name='Mr Morse' post='386687' date='Oct 3 2006, 09:42 PM']Would you like to tell us TDi's EBIT % for the financial year 2005?

No?

It was considerably more than Tesco....by a long, long way [/quote]

off topic mike !

if you are really so concerned about TDI`s figures perhaps you could PM or email Mark
i am sure Mark would only be to pleased to discuss his financial affairs with you

But it is on topic....

TDi is questioning Tesco profits.....which at 6% EBIT are nothing special, compared to TDi's profit margin, which are significantly greater!

(and by the way, the accounts are available in the public domain)

mike - what is it about TDi that gets you so hard?

I come on here very rarely, but everytime i do, theres a thread where your like a terrier hanging onto Mark's ankle growling away about some nonesense...

?

[quote name='Mr Morse' post='386666' date='Oct 3 2006, 07:33 PM'][quote name='tdiplc' post='386536' date='Oct 3 2006, 10:26 AM']
Tesco have posted a profit of almost 1.1 billion Pounds this morning.

That's not turover, it's pure profit.

That is truly astonishing.

Do you think:
a) It is truly inspiring and brings wealth, employment and choice to this and other nations?
cool.gif Is it insidious profiteering that degrades communities and takes advantage of poverty in 3rd world countries?
c) Have I missed something unsure

Your thoughts please.[/quote]

Rather a bizzare statement.....considering?

What does the "plc" in TDiplc stand for?
[/quote]


Is it bizzare? I am sorry if you think so.

PLC is an acronym for Public Limited Company.



[quote name='Mr Morse' post='386713' date='Oct 4 2006, 12:47 AM']But it is on topic....

TDi is questioning Tesco profits.....which at 6% EBIT are nothing special, compared to TDi's profit margin, which are significantly greater!

(and by the way, the accounts are available in the public domain)[/quote]

I am not questioning Tesco's profits Mike. I was asking what people thought, as a topic for discussion.

My own personal thoughts are that Tesco is an absolutely fantastic business model. They are at the top of their game and understand the value of their front line staff being happy and motivated, and hiring the best management talent they can find. Bringing £1.1bn into the country every 6 months is truly wonderous. I wish I was that clever

[quote name='MacRS200' post='386678' date='Oct 3 2006, 08:50 PM'][quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']
As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]
Is this a pre-cursor to a big announcement that TDI Plc are going to make a large charitable donation to the local community
[/quote]

Funny you should mention that. We had a staff meeting earlier this year where the staff decided to donate a proportion of their profit share bonuses to local and national charities. TDi matches the donation. It won't change the world but it can help others less fortunate and it's a good motivator for us.



[quote name='TheDon' post='386709' date='Oct 3 2006, 11:57 PM'][quote name='tdiplc' post='386620' date='Oct 3 2006, 04:42 PM']
[quote name='TheDon' post='386617' date='Oct 3 2006, 04:32 PM']
[quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']
I wonder what their Corprorate Social Responsibility policy is?

As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]

Surely they are already putting back into the comunity by bringing us their product, or to put it better - supplying us all we need. they are obviously putting enough into the comunity for people to trust and buy from them...

of course it could always be better and cheaper, but the quality prevails.. jobs could be seen as comunity favourable policy as well as buying from british farmers rather than just european
[/quote]

Thats true Chris but many truly great companies tithe a proportion of their profits to go to charity or local communities etc. Very fair play
[/quote]

What about their vouchers for school equipment etc..... its definately a step towards the right direction.

But i definately think something such as scholarships for people without the means to go to uni but the brains and tallent. With a work incentive scheme bringing them a wage, maybe investing in creches to allow young single mums to work in their stores and become role models to their children rather than developing the culture of benifit mums and their children who think the only way to get ahead is to have a kid and go on benifits.

Maybe their gestures dont have to be completely selfless, just benificial to those other than the shareholders etc
[/quote]

I totally agree with you Chris

[quote name='tdiplc' post='386732' date='Oct 4 2006, 09:14 AM'][quote name='MacRS200' post='386678' date='Oct 3 2006, 08:50 PM']
Is this a pre-cursor to a big announcement that TDI Plc are going to make a large charitable donation to the local community [/quote]
Funny you should mention that. We had a staff meeting earlier this year where the staff decided to donate a proportion of their profit share bonuses to local and national charities. TDi matches the donation. It won't change the world but it can help others less fortunate and it's a good motivator for us.
[/quote]
Fair play to all at TDI Mark, It may not change the world but "every little helps" as Tesco say

in the end the whole point of being in business is to make a proffit.

For those that are doing well in all aspects i aplaud you be it TDi or Tesco.

I dont understand the need to bash TDi over starting a thread which has had a good bit of debate.

Its proffits were never in question and i dont understand the need to be so obsessed with another so much.... i think its called infactuation.

[quote name='tdiplc' post='386732' date='Oct 4 2006, 09:14 AM']PLC is an acronym for Public Limited Company.[/quote]

So it is!

251.—(1) A public company whose shares, or any class of whose shares, are listed need not, in such cases as may be specified by regulations made by the Secretary of State, and provided any conditions so specified are complied with, send copies of the documents referred to in section 238(1) to members of the company, but may instead send them a summary financial statement. (Companies Act 1989)

So we assume that TDiplc is a public limited company as defined by the Act

[quote name='Mr Morse' post='386747' date='Oct 4 2006, 10:46 AM']So we assume that TDiplc is a public limited company as defined by the Act[/quote]

There is no need to assume Mike. That fact that we have PLC status is clearly stated on our web site, published advertising and literature, letter heads, business cards and on the sign in our premises.

We are quite proud of the fact that we were the 1st (and still only) company in this business to be capable of aquiring PLC status. We upgraded from an ordinary Limited Comapny to PLC around 12 to 13 years ago I think.

Thank you very much for your interest.

Apologies for this rant, but why has another thread been taken off topic in such a snide manner?

It's one thing to engage in good old banter and debate about cars or the mega big profits at Tesco, but a complete abuse of this forum to engage in an argument of a personal nature that should in all fairness be kept to PMs or offline.

I don't care who is right and who is wrong, because I don't know the history, and I don't want to know, and my guess is that most people on here don't want to know either. I don't want to start another discussion about this, I just wish people would stop acting like 5 year old children.

IIRC, this is the Lexus Owners Club not the Mr Morse V Tdi Club...

[quote name='tdiplc' post='386732' date='Oct 4 2006, 09:14 AM'][quote name='Mr Morse' post='386666' date='Oct 3 2006, 07:33 PM']
[quote name='tdiplc' post='386536' date='Oct 3 2006, 10:26 AM']
Tesco have posted a profit of almost 1.1 billion Pounds this morning.

That's not turover, it's pure profit.

That is truly astonishing.

Do you think:
a) It is truly inspiring and brings wealth, employment and choice to this and other nations?
cool.gif Is it insidious profiteering that degrades communities and takes advantage of poverty in 3rd world countries?
c) Have I missed something unsure

Your thoughts please.[/quote]

Rather a bizzare statement.....considering?

What does the "plc" in TDiplc stand for?
[/quote]


Is it bizzare? I am sorry if you think so.

PLC is an acronym for Public Limited Company.



[quote name='Mr Morse' post='386713' date='Oct 4 2006, 12:47 AM']But it is on topic....

TDi is questioning Tesco profits.....which at 6% EBIT are nothing special, compared to TDi's profit margin, which are significantly greater!

(and by the way, the accounts are available in the public domain)[/quote]

I am not questioning Tesco's profits Mike. I was asking what people thought, as a topic for discussion.

My own personal thoughts are that Tesco is an absolutely fantastic business model. They are at the top of their game and understand the value of their front line staff being happy and motivated, and hiring the best management talent they can find. Bringing £1.1bn into the country every 6 months is truly wonderous. I wish I was that clever

[quote name='MacRS200' post='386678' date='Oct 3 2006, 08:50 PM'][quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']
As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]
Is this a pre-cursor to a big announcement that TDI Plc are going to make a large charitable donation to the local community
[/quote]

Funny you should mention that. We had a staff meeting earlier this year where the staff decided to donate a proportion of their profit share bonuses to local and national charities. TDi matches the donation. It won't change the world but it can help others less fortunate and it's a good motivator for us.



[quote name='TheDon' post='386709' date='Oct 3 2006, 11:57 PM'][quote name='tdiplc' post='386620' date='Oct 3 2006, 04:42 PM']
[quote name='TheDon' post='386617' date='Oct 3 2006, 04:32 PM']
[quote name='tdiplc' post='386605' date='Oct 3 2006, 03:41 PM']
I wonder what their Corprorate Social Responsibility policy is?

As far as I am concerned, earning money is pointless unless it is put to good use. I love the way that Richard Branson is diverting his profits into biofuel technology (although that may be more of a commercial decision than philanthropic) and that Bill Gates is giving away 95% of his wealth. Very fair play

I wonder how much Tesco put back into the community?[/quote]

Surely they are already putting back into the comunity by bringing us their product, or to put it better - supplying us all we need. they are obviously putting enough into the comunity for people to trust and buy from them...

of course it could always be better and cheaper, but the quality prevails.. jobs could be seen as comunity favourable policy as well as buying from british farmers rather than just european
[/quote]

Thats true Chris but many truly great companies tithe a proportion of their profits to go to charity or local communities etc. Very fair play
[/quote]

What about their vouchers for school equipment etc..... its definately a step towards the right direction.

But i definately think something such as scholarships for people without the means to go to uni but the brains and tallent. With a work incentive scheme bringing them a wage, maybe investing in creches to allow young single mums to work in their stores and become role models to their children rather than developing the culture of benifit mums and their children who think the only way to get ahead is to have a kid and go on benifits.

Maybe their gestures dont have to be completely selfless, just benificial to those other than the shareholders etc
[/quote]

I totally agree with you Chris
[/quote]


Having know a lot of people who work in Tescos at both shop level and higher management level, Tesco are far from a good company to work for. Almost every year in the worst 100 companies to work Tesco is often one of the worst offenders.

Tesco manage profits like that by shifting what the market wants and screwing over famrers and other suppliers in the meantime. The staff on the other hand get very little as a thank you! Trust me

On another note, all limited copmanies have to include their status in trading name. I.e Ltd or PLC, but PLC is not always a public limited company, could infact mean Prviate Limited Company.

[quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']Having know a lot of people who work in Tescos at both shop level and higher management level, Tesco are far from a good company to work for. Almost every year in the worst 100 companies to work Tesco is often one of the worst offenders.

Tesco manage profits like that by shifting what the market wants and screwing over famrers and other suppliers in the meantime. The staff on the other hand get very little as a thank you! Trust me [/quote]
That's an interesting comment Kazi - thanks . As an outsider looking in I am quite surprised to hear that.

Any business is only as good as the people that work there, and most business owners and Managers know that so take steps to ensure that the staff are content.

[quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']but PLC is not always a public limited company, could infact mean Prviate Limited Company.[/quote]

I am surprised by that too as I have never heard of that before

[quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']Having know a lot of people who work in Tescos at both shop level and higher management level, Tesco are far from a good company to work for. Almost every year in the worst 100 companies to work Tesco is often one of the worst offenders.

Tesco manage profits like that by shifting what the market wants and screwing over famrers and other suppliers in the meantime. The staff on the other hand get very little as a thank you! Trust me [/quote]
Manage profits like what, yeh it is a big number but as a percentage of the turnover it is actually very modest.
[quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']On another note, all limited copmanies have to include their status in trading name. I.e Ltd or PLC, but PLC is not always a public limited company, could infact mean Prviate Limited Company.[/quote]
A Limited company cannot use the term PLC after it's name it can only use Ltd, a definition of a PLC:-

[b]A company which may have an unlimited number of shareholders and offer its shares to the wider public (unlike a limited company).

The company must have a minimum share value of £55,000. Some PLCs are listed on the London Stock Exchange. [/b]

The term PLC implies that the company has some shares that have been sold to the public, however it can still be a "close company" where all shares are owned by a few individuals, usually the Directors. AFAIK the rules are the same so the company must have a minimum of 2 Directors.

Slightly off topic but what defines the minimum share value of a company - the total assumed value of their assets or something else? Always wondered and have never been sure!

Don't know about you guys but I do all my shopping at Sainsbury's and then buy all my petrol at Tesco, I just prefer Sainsburys because the one up here is always dead and there's not really much difference in price for the small amount of stuff I buy each week!

[quote name='MacRS200' post='386783' date='Oct 4 2006, 02:16 PM'][quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']
Having know a lot of people who work in Tescos at both shop level and higher management level, Tesco are far from a good company to work for. Almost every year in the worst 100 companies to work Tesco is often one of the worst offenders.

Tesco manage profits like that by shifting what the market wants and screwing over famrers and other suppliers in the meantime. The staff on the other hand get very little as a thank you! Trust me [/quote]
Manage profits like what, yeh it is a big number but as a percentage of the turnover it is actually very modest.
[quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']On another note, all limited copmanies have to include their status in trading name. I.e Ltd or PLC, but PLC is not always a public limited company, could infact mean Prviate Limited Company. It is just the norm that if it is a private ltd company to just use Ltd as apose to Plc.[/quote]
A Limited company cannot use the term PLC after it's name it can only use Ltd, a definition of a PLC:-

[b]A company which may have an unlimited number of shareholders and offer its shares to the wider public (unlike a limited company).

The company must have a minimum share value of £55,000. Some PLCs are listed on the London Stock Exchange. [/b]

The term PLC implies that the company has some shares that have been sold to the public, however it can still be a "close company" where all shares are owned by a few individuals, usually the Directors. AFAIK the rules are the same so the company must have a minimum of 2 Directors.
[/quote]

Ok then, MarcRs200 "manage" to get profits like that......we getting picky now or something?

I also still stand by Ltd and Plc interpretations. I'll dig out my old Business studies bible when I get home and stand corrected if this is the case.

[quote name='tdiplc' post='386782' date='Oct 4 2006, 02:13 PM'][quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']

Having know a lot of people who work in Tescos at both shop level and higher management level, Tesco are far from a good company to work for. Almost every year in the worst 100 companies to work Tesco is often one of the worst offenders.

Tesco manage profits like that by shifting what the market wants and screwing over famrers and other suppliers in the meantime. The staff on the other hand get very little as a thank you! Trust me [/quote]
That's an interesting comment Kazi - thanks . As an outsider looking in I am quite surprised to hear that.

Any business is only as good as the people that work there, and most business owners and Managers know that so take steps to ensure that the staff are content.

[quote name='Kazi' post='386779' date='Oct 4 2006, 01:45 PM']but PLC is not always a public limited company, could infact mean Prviate Limited Company.[/quote]

I am surprised by that too as I have never heard of that before
[/quote]


Your quite true Mark, staff are an asset to a company, without good staff a company can not operate efficiently and productively. I just know that tesco treat alot of the poeple ive know like crap whilst under employement. Thye get away with it by paying half ok wages for easy monkey work.

[quote name='aido' post='386796' date='Oct 4 2006, 03:12 PM']Slightly off topic but what defines the minimum share value of a company - the total assumed value of their assets or something else? Always wondered and have never been sure![/quote]

An ordinary Limited Company must have a minium capitalisation (money paid for shares by the owner) of £100 whereas a PLC must have a minimum capitalisation of £50,000 (Mac said it is £55,000 so perhaps it has increased since we did it)

Ah right thanks Mark

[quote name='tdiplc' post='386808' date='Oct 4 2006, 03:38 PM'][quote name='aido' post='386796' date='Oct 4 2006, 03:12 PM']
Slightly off topic but what defines the minimum share value of a company - the total assumed value of their assets or something else? Always wondered and have never been sure![/quote]

An ordinary Limited Company must have a minium capitalisation (money paid for shares by the owner) of £100 whereas a PLC must have a minimum capitalisation of £50,000 (Mac said it is £55,000 so perhaps it has increased since we did it)
[/quote]

someone told me it was £12500 with the proviso "you" had to have the balance as collateral

[quote name='Kazi' post='386800' date='Oct 4 2006, 03:22 PM'][quote name='MacRS200' post='386783' date='Oct 4 2006, 02:16 PM']
Manage profits like what, yeh it is a big number but as a percentage of the turnover it is actually very modest.[/quote]
Ok then, MarcRs200 "manage" to get profits like that......we getting picky now or something?
[/quote]
Not being picky mate or having a go at you, the point is that the NUMBERS ARE BIG BUT IN RELATION TO THE TURNOVER THE PROFIT MODEST AT 5.7%.

Been saying this right from my first post but most on here are dazzled by the cash value and are not looking at the overall business.

Also retail is cut-throat and always has been, name one big retailer that does not screw down their suppliers and pay the lowest wages they can get away with. Alternatively stop using Tesco and post your cash to the USA via your local Asda, I know peeps who have worked for them and they treat their staff like *****.

what a strange thread


tesco make money !

why ?...because we shop there

why?...because they sell what we want to buy at the price we are willing to pay

tesco should give a bit back !

why ?...they are a viable company, viable companies are meant to make money, that money belongs to the share holders who invested their money into a company, on the presumption it would make money...make them money !


tesco and supermarkets have put the high street shops out of business !

where did all the supermarkets start from?..........yes the high street
and wasnt it the high street shops that originally put the farmers and smallholdings out of business !

I don't shop at Tesco

Meat and fish from the local Butcher and Fishmonger, and veg from from the local greengrocer........Every thing else from a supermarket which is nearest at the time, usually CO-OP as most items are fair trade

Hats off to Tesco though

Agreed 100% Bazza, it is not the Hyper/Supermarkets that have/are killing off the high street it is the people who shop there, and that folks is you and me.

I remember having a convo with someone who was complaining that the village Post Office was closing, so I asked them how often they used/shopped there, the answer NEVER

Back on Tesco the margins are so low that if they gave Farmer Giles, et all, £ 1,050 of £ 1,000 for a ton of spuds, and come on let's face it £ 50 quid is nothing is it. Well to Tesco that would turn a £ 1.1 billion profit into SFA.

Like you say Bazza a wierd thread all round.

its about market share-should a company be able to grow that large?I feel there should be a limit on that as the competetion will eventually die out and we the consumer will be left with less choice.

At the end of the day.. Who really cares?? Are you going to use Tesco less or local butchers / farmers more?? NO

You are still going to carry on your normal lives and shop where and when you want.

Sooo. fair play to Tesco but at the end of the day it matters nothing to my life. I'll still use them or not as the case maybe to MY convenience

If you want to have a pop at profiteering.....take a look at the P&L's of the Oil majors, XOM, Shell, BP etc.

Sir John Browne gets up in the morning, Zorro's his rent boy and then chalks up another few quid.

[quote name='MacRS200' post='386844' date='Oct 4 2006, 06:50 PM']Agreed 100% Bazza, it is not the Hyper/Supermarkets that have/are killing off the high street it is the people who shop there, and that folks is you and me.

I remember having a convo with someone who was complaining that the village Post Office was closing, so I asked them how often they used/shopped there, the answer NEVER

Back on Tesco the margins are so low that if they gave Farmer Giles, et all, £ 1,050 of £ 1,000 for a ton of spuds, and come on let's face it £ 50 quid is nothing is it. Well to Tesco that would turn a £ 1.1 billion profit into SFA.

Like you say Bazza a wierd thread all round.[/quote]


Don't forget, the Internet has also been a catalyst do the demise of many small and local shops on the high street.