Hobson on Tesco, Greggs and Wolseley

THE WEEK: Morningstar columnist Rodney Hobson praises the reinstated dividend at Tesco and says it may not be too late to buy rising Greggs

Rodney Hobson 6 October, 2017 | 1:28PM

It might not be too late to buy Greggs says Rodney Hobson

One penny may not sound a lot but it can sometimes count for much more than nothing. The return of a dividend at supermarket group Tesco (TSCO) after three barren years sounds like all the tills ringing at once. The 1p interim implies a total 3p for the year.

Not all the problems have gone away. I don’t like the way that sales are still struggling in Asia and Central Europe, though even that caveat was tempered by leaping profits in Asia thanks to the discontinuation of the disastrous Thailand bulk selling venture. Also the closure of unprofitable stores is lessening the burden in Europe.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Ferguson PLC7,594.00 GBX1.06
Greggs PLC2,394.00 GBX1.01
Tesco PLC256.30 GBX-0.08

About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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