, Columnist
Tesco Has a $5.7 Billion Question Hanging Over Its Head
Full-year earnings were great, but where are those extra Booker synergies?
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Tesco Plc, Britan's biggest grocer, has completed its 4 billion pound ($5.7 billion) purchase of cash-and-carry chain Booker Group Plc. But investors hoping for more super-savings from the retail deal are having to wait a little bit longer.
That's not to sniff at the 28 percent increase in Tesco's full-year operating profit before exceptional items, nor the almost 30 percent reduction in net debt and restoration of the final dividend.