Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Tesco    TSCO   GB0008847096

TESCO

(TSCO)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Tesco : Two Former Tesco Executives Acquitted in Fraud Trial

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/06/2018 | 07:03pm EDT

By Mengqi Sun

Former executives at subsidiaries of Tesco PLC were acquitted in a 2014 fraud case related to the British retailer's accounting practices.

The U.K's Serious Fraud Office opened an investigation in October 2014 after Tesco disclosed it had overstated its profit by more than GBP250 million.

The office in 2016 charged each of three former executives, Carl Rogberg, Christopher Bush and John Scouler, with accounting fraud and abusing their positions.

The Court of Appeal on Wednesday upheld a "no case to answer" decision in the retrial against Messrs. Bush and Scouler, ruling there was insufficient evidence for a jury to consider.

The first trial against the three defendants was discontinued in February. The SFO appealed the decision after a judge decided there was insufficient evidence for a case against Messrs. Bush and Scouler in a retrial, which began in October.

Mr. Rogberg wasn't part of the recent retrial and the SFO is still evaluating whether to pursue a retrial of him considering the latest judgment.

Tesco in March 2017 entered into a deferred-prosecution agreement with the SFO regarding its accounting practices, agreeing to pay GBP129 million in penalties plus the SFO's cost.

Corrections & Amplifications

This article was corrected on Dec. 7, 2018. Information cited in a U.K. reporting restriction entered in July was removed from an earlier version.

This article is part of a news chaine.
Article 1 / 2
<< Preceding Next >>
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TESCO
05/21NATIONWIDE BUILDING SOCIETY : UK's Tesco to sell $4.7 billion mortgage book as c..
RE
05/21LONDON STOCK EXCHANGE : New Brexit deal, Huawei reprieve boost FTSE 100
RE
05/21EUROPE MARKETS: European Markets Stage Rebound After Monday Malaise
DJ
05/21LONDON MARKETS: London Markets Move Higher As Pound Hits Four-month Low
DJ
05/21TESCO : Bank to cease new mortgage lending
PU
05/21TESCO : TPF PLC-new mortgage lending / mortgage portfolio
PU
05/21TESCO : to Explore Sale of Mortgage Portfolio
DJ
05/20Carrefour considers sale of stake in China business - sources
RE
05/16TESCO : Ex-dividend day for final dividend
FA
05/15British Land annual NAV declines on high-street retail closures
RE
More news
Financials (GBP)
Sales 2020 65 028 M
EBIT 2020 2 503 M
Net income 2020 1 573 M
Debt 2020 1 651 M
Yield 2020 3,44%
P/E ratio 2020 14,39
P/E ratio 2021 12,73
EV / Sales 2020 0,38x
EV / Sales 2021 0,36x
Capitalization 22 789 M
Chart TESCO
Duration : Period :
Tesco Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TESCO
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 2,74  GBP
Spread / Average Target 18%
EPS Revisions
Managers
NameTitle
David John Lewis Group Chief Executive Officer & Director
John Murray Allan Non-Executive Chairman
Antony John Hoggett Chief Operating Officer
Alan James Harris Stewart Chief Financial Officer & Executive Director
Guus Dekkers Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
TESCO22.41%29 221
SYSCO CORPORATION19.63%38 528
WOOLWORTHS GROUP LTD14.72%31 534
SEVEN & I HOLDINGS CO., LTD.-22.11%30 175
AHOLD DELHAIZE-6.14%27 843
CP ALL PUBLIC COMPANY LIMITED--.--%21 681