TESCO FORECASTS PROFITS RISE THIS YEAR
Tesco Plc <TSCO.L> said in a statement
it expects pre-tax profits of 166 mln stg for the year ending
February 28, 1987, before nine mln stg of net property profits.
This compares with 122.9 mln stg pretax profits and a net 8.1
mln on property sales the previous year. It said the forecast
was in its formal offer document sent to <Hillards Plc>
shareholders today.
    On March 10 Tesco launched a 151.4 mln stg bid for
Hillards. The offer, of 13 new Tesco ordinary shares for every
20 Hillards ordinary shares, valued each Hillards ordinary
share at 305.5p.
 Reuter
