By Carlo Martuscelli

Tesco PLC (TSCO.LN) said on Monday that it expects operating profit before exceptional items to come in at 1.58 billion pounds ($2.22 billion) for the year ending Feb. 24, and said it intends to propose a final dividend of 2 pence per share.

The British supermarket retailer said business in the period since its Christmas trading update, released on Jan. 11, was in line with its expectations.

Tesco said it will appoint Charles Wilson as chief executive of its retail and wholesale operations in its U.K. and Republic of Ireland division once its merger with Booker Group PLC (BOK.LN) was complete. This is expected to be on March 5.

The company said until then, Matt Davies will continue in that position. He will leave the company in April after helping with the handover.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

February 05, 2018 02:36 ET (07:36 GMT)

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