Tesco delivered a bumper performance in 2004, as sales climbed 12.4% to £37.1bn and pre-tax profit came in 24.5% up at £1.9bn for the year ended 26 February 2005.
The retail giant, however, provided very little detail on the impact of new international accounting standards. Tesco said the adoption of IFRS would have an adverse impact on post-tax profit of no more than £30m, but did not disclose any further information.
The company will, however, provide restated financial information under IFRS towards the end of May.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements