Tesco record profits

[milkloss]

So much in the news on this doesn’t make sense:
Trying to keep prices down for the hard pressed public etc etc

has anyone drilled into where the profits come from within the business?

 

[Wesley]

So much in the news on this doesn’t make sense:
Trying to keep prices down for the hard pressed public etc etc

has anyone drilled into where the profits come from within the business?

I take it you don’t do your food shopping…

 

[spin cycle]

3,4%....£6,3 million/day...£263000/hour

 

[Chris F]

Article from 2 years ago over record profits - Government urged to act:

UK farmers making tiny profits as supermarkets boast record takings

Ministers urged to act as study shows average block of cheese or loaf of bread makes farmers less than a penny

www.theguardian.com

 

[Bury the Trash]

So much in the news on this doesn’t make sense:
Trying to keep prices down for the hard pressed public etc etc

has anyone drilled into where the profits come from within the business?

Food prices need to go up and make sure that a bigger share is given to the primary producer despite what the nfu say.

 

[milkloss]

I take it you don’t do your food shopping…

That’s why I asked…. Tesco doesn’t just sell food. It sells financial services, furniture, insurance etc too. How much profit came from bending over the farmer?

 

[hally]

Article from 2 years ago over record profits - Government urged to act:

UK farmers making tiny profits as supermarkets boast record takings

Ministers urged to act as study shows average block of cheese or loaf of bread makes farmers less than a penny

www.theguardian.com

This Government won't do anything....it gets a lot of tax from Tesco where farmers merely cost them money.

 

[farmerm]

This Government won't do anything....it gets a lot of tax from Tesco where farmers merely cost them money.

Do we? Farm subs are soon spent with suppliers, who soon spend the money with their suppliers.. each pound of government support is spent several times though a year and arrives back in the treasury account with interest....

 

[teslacoils]

Giving money to farmers is like giving student grants - spent before it hits the bank account. Goes straight back into the economy.

 

[Whitewalker]

Article from 2 years ago over record profits - Government urged to act:

UK farmers making tiny profits as supermarkets boast record takings

Ministers urged to act as study shows average block of cheese or loaf of bread makes farmers less than a penny

www.theguardian.com

 

[hally]

Do we? Farm subs are soon spent with suppliers, who soon spend the money with their suppliers.. each pound of government support is spent several times though a year and arrives back in the treasury account with interest....

Be interesting to know how much tax take the government takes from ag suppliers compared to a £3billion subsidy bill?

 

[Johnnyboxer]

£2.3billion - up 3 fold over last year results
Nice work

 

[gone up the hill]

Be interesting to know how much tax take the government takes from ag suppliers compared to a £3billion subsidy bill?

The sub bill is currently not 3 billion but more like 2.5 billion as they have withheld too much money back from the delinked BPS payments v what farmers can claim v the SFI scheme.

Currently about a 500 million underspend on sub payments .

 

[beardface]

That’s why I asked…. Tesco doesn’t just sell food. It sells financial services, furniture, insurance etc too. How much profit came from bending over the farmer?

Most of it as those services are funded from excess cash of the main business.

 

[vantage]

Most of it as those services are funded from excess cash of the main business.

A sort of money laundering?

 

[beardface]

A sort of money laundering?

Think the reason they originally went down the banking route was because they had plenty to lend. I recon profit on food will be fairly substantial. Remember it's not just British farmers their screwing over. They always reconned milk was a loss leader, but according to olly blogs milked price in Poland is double, but shelf price similar. That would mean there giving milk away, something I doubt. Would of thought processing costs are similar. If the government gave a sh!t about agriculture then they'd sort out fairness in supply chain and drag the EA over hot coals.

 

[spin cycle]

£2.3billion - up 3 fold over last year results
Nice work

TBF and IIRC...they've made similar profits before so the £882 million was a drop.....I don't begrudge them making a profit... just the way they do it....screwing suppliers

 

[Jop]

So Tesco profit of £2.3billion is basically the same as the UK farm subsidy total of £2.4billion.
This is just one UK supermarket, what would the total profit of all of them be?
I think the government need to wake up and see who they are subsidising, supermarket profits. I think we as farmers also need to stop feeling bad about receiving public money (which is keeping a lot of farms in business) and need to keep the public informed that the money is keeping us in business as we are being screwed by supermarkets

 

[Clive]

Supermarkets made a disgusting amount out of Covid whilst every competitor they had was forced to shut their doors and take on loans etc. now they are profiting from the effect of war

To add insult to injury they then claimed to be responsible for feeding the nation


They are out of control and so big that even governments are scared of them now

 

[nick...]

Farmers and suppliers screwed one end and customers the other.obscene profits up 59% if I heard correctly.
f**k you tesco
nick…