Husain, T., & Sunardi, N. (2020). What Is a Solvency Ratio, and How Is It Calculated? A strong first half leading to an upgrade in full year profit expectations: However, the majority of the business is made in the UK. Financial Analysis Report of Tesco Plc It has been many years since we last saw living costs rise at the rate they are today," CEO Ken Murphy told reporters. Tesco warns of lower profits as UK inflation squeeze tightens Tesco's total UK retail saw an increase of 0.2% from last year and 0.3% over the Christmas period. The Effect of Current Ratio and Debt to Equity Ratio on Deviding Growth. Tesco debt/equity for the three months ending February 28, 2023 was. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. June 15, 2022. https://ivypanda.com/essays/tesco-plc-financial-analysis-and-recommendation/. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Retrieved from https://ivypanda.com/essays/tesco-plc-financial-analysis-and-recommendation/. The debt ratio is a fundamental analysis measure that looks at the extent of a companys leverage. Unlock access to over 1000 metrics Gearing is a measure of how much of a company's operations are funded using debt versus the funding received from shareholders as equity. Tesco Annual Report 2022 Download Financials in Excel = Dividend Payout Ratio Tescos Dividend Payout Ratio increased from 25% in 2018 to 37% in 2019, with dividends paid increasing substantially from 3.0p to 5.77p during the same period. (2012) Valuation techniques: discounted cash flow, earnings quality, measures of value added, and real options. The company's group sales were up by 3.0% year-on-year at constant rates. The decline in Current Assets is partly attributed to a decrease in the companys cash reserves of GBP 2,916 Million in 2019 compared to GBP 4,056 Million in 2018 (Tesco, 2020). The year-end figures of 454,419 for 2019 and 440,658 for 2018 are used because average values are not reported and demonstrate an approximate 8% increase in sales revenue per employee. Write 1,200 word based on the following tesco annual report 2021 to 2022. Based on the above calculation, it is ascertained that it is better to invest in Tesco as it has adequate profitability and efficiency ratio and an adequate solvency position. Since youve just unblocked this person, you must wait 48 hours before renewing the block. Besides, their debt was at 3.84, which means that their own . Ashika Mendis. Interim results 2021/22 - Tesco PLC analysis of company financial performance. In this case, Tescos PLC Profitability ratios are summarised as follows: There was an increase in Tescos operating and net profit margins for the year 2019, compared to the 2018 returns (Sabanoglu, 2020). compute financial statement ratios Tesco: compute . Tesco raised its full-year dividend 19.1% to 10.9 pence a share and committed to return a further 750 million pounds to shareholders by April 2023 through a share buyback programme. The Sales Revenue to Capital Employed ratio of the company also remained unchanged in 2019 at 2.24 compared to 2018s 2.25. Market data suggests shoppers have started to shift their buying habits to save money, opting for more own-label foods. Ten years of annual and quarterly financial ratios and margins for analysis of Tesco (TSCDY). Interim results 2021/22 STRONG H1 OUTPERFORMANCE LEADING TO INCREASED FY PROFIT OUTLOOK. (2019). Although the online shopping business has strong potential and increase, gross profit, return on employment capital, dividend payment and share price are falling. For instance, assume the company's debt ratio last year was 0.3, the industry average is 0.8, and the companys main competitor has a debt ratio of 0.9. Sabanoglu, T. (2020) Tesco group revenue in the United Kingdom (UK) 2015-2020, Statista, Web. New York: John Wiley & Sons. What did I miss, was away for a while?Is it cycle or there are news moving the price? DebtRatio=TotalAssetsTotalDebt. Earnings per share can be defined as a company's net earnings or losses attributable to common shareholders per diluted share base, which includes all convertible securities and debt, options and warrants. A. In 2020 the companys quick ratio was increased to 0.60, which is almost 26% increase. Stock Research. Epstein, M. J., & Buhovac, A. R. (2014). Tesco PLC is a British multinational grocery chain. "Tesco Plc Financial Analysis and Recommendation." Financial reporting and corporate governance. Tescos PLC Gearing ratios are summarised as follows: Investment Ratios are used to evaluate the returns earned or attributable to the investors in a companys shares over a given time duration, usually one financial period or so depending on the company setup (Larrabee and Voss, 2012). Delayed Quote Follow this post . Making sustainability work: best practices in managing and measuring corporate social, environmental, and economic impacts. Tesco has reached this position through consistent focus on their four part strategy for growth: Tesco has a strong, growing core UK business offering customers excellent value, choice and convenience; Tesco aims to be as strong in non-food as it is in food; Tesco follows the customer into new areas like retailing services such as financial products (Tesco Personal Finance), internet shopping (Tesco.com) and telecoms (Tesco telecom offers mobile, fixed line and broadband services) & Tesco is a leading international retailer with a long term strategy for growth. "Inflation is very real for everyone. We would also like to set optional cookies to improve our site and bring you more features. Gearing ratios have more meaning when they are compared against the gearing ratios of other companies in the same industry. These factors include customers or target groups, the inputs from supplies, business competitors, media effects, political sways, technological advances, economic, social, and natural phenomena. We cant find the page you're looking for. The Baja-ready F-150 Raptor comes with a high-output version of the twin-turbo 3.5-liter EcoBoost V-6 that produces 450 horsepower and 510 pounds-feet of torque. American Journal of Industrial and Business Management,9(2), 325-341. Tesco is a British grocery retailer, with its headquarters in the United Kingdom. If you reached this page via our site or search, please let us know by emailing, The Luxury Tower Built for New Yorks Elite Sits Half Empty, Xi Jinping Chokes Off Crucial Engine of Chinas Economy, Tampa: Why Gen Z and Millennial Tourists Are Flocking to This Retirement Mecca, Heat Wave Hits Italy, Spain and Greece, Temperatures Above 111 Degrees. 10/04 Earnings Release More about the company Ratings of Tesco PLC Trading Rating : Investor Rating : The increase in debts by 5% is the main cause behind it. DuPont Analysis: The DuPont Formula Plus How to Calculate and Use It, Total-Debt-to-Total-Assets Ratio: Meaning, Formula, and What's Good, Leverage Ratio: What It Is, What It Tells You, How To Calculate, Debt-to-Equity (D/E) Ratio Formula and How to Interpret It. Share. A firm's gearing ratio should be compared with the rations of other companies in the same industry. Tesco PLC, TSCO:LSE financials - FT.com The inventory turnover ratio is calculated by comparing the cost of sales with an average inventory. Unfollow this post . Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. A good creditors turnover ratio will be an indication of that. Learn more on TSCO's analyst rating history. TESCO.docx - Critical evaluation of Tesco's financial According to Sharma (2020), liquidity ratios help to assess the financial capacity of a business to meet short-term obligations, such as debts, when they are due. Here, the financial analysis will be conducted for TESCO, one of the finest groceries and general merchandise retailers operating in the UK. When the industry average ratio result is 0.8, and the competition's gearing ratio result is 0.9, a company with a 0.3 ratio is, comparatively, performing well in its industry. A solvency ratio is a key metric used to measure an enterprises ability to meet its debt and other obligations. Get 50% Off InvestingPro Now , Profitability: TTM vs 5 Year Average Margins, Management Effectiveness: TTM vs 5 Year Average Margins. Ratio analysis of the company and the industry. Earlier the company is having a creditors turnover of 7.80 times which is increased to 7.88 in 2020. The average twelve-month price prediction for Tesco is GBX 296.67 with a high price target of GBX 310 and a low price target of GBX 270. Gearing is a . \begin{aligned} &\text{Debt-to-Equity Ratio} = \frac { \text{Total Debt} }{ \text{Total Equity} } \\ \end{aligned} Tesco PLC balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. Five Year Record In addition, loan agreements may require companies to operate with specified guidelines regarding acceptable gearing ratio calculations. This evaluation will be undertaken primarily through ratio analysis and the integration of additional company and industry information obtained from its 2019 annual report and other external sources provided concerning this company. Equity TimesInterestEarned*=TotalInterestEBIT, EquityRatio According to Sharma (2020), profitability ratios are useful measures for evaluating the potential of a business to generate profits from available resources. 0,36x. A. STRATEGIC PRIORITIES SET OUT; SHARE BUYBACK PROGRAMME ANNOUNCED. Simultaneously, the net Profitability of Sainsbury is stood at 0.6% in 2019, which is decreased to 0.5%. Currently, the company has operations across the globe, totaling 3,787 stores and employing more than 340,000 people as of 2019 (Tesco, 2020). - distribution in Central Europe (7%): operation, at the end of February 2022, of 537 stores located in the Czech Republic (185; of which 126 franchised), Hungary (198) and Slovakia (154; of which 15 franchised). Like that performance of Tesco, the creditors turnover for Sainsbury is increased by a small percentage of 1%. Accounting and Finance Research,7(1), 109-115. TotalAssets International Journal of Economics and Financial Issues,7(2), 86. Your status will be reviewed by our moderators. The increase in the debtors turnover might not seem very high, but depending upon the retail sectors inductor, the company has adequate debtors turnover. He said Tesco was in "great shape" to deal with the crisis. Accordingly, Tesco PLC utilized part of its cash reserves to cover its long-term obligations in the financial year ending 2019. The decline in these ratios is attributed to an increase in the companys Current Liabilities to GBP 20,680 Million compared to GBP 19,233 Million in 2018. Will Kenton is an expert on the economy and investing laws and regulations. To assess the capital structure of Tesco, the debt-to-equity ratio will be used. Apple Company Returns and Earnings. Sainsbury has earned 7.9% gross profit in 2019, which is higher the gross profit earned by Tesco. We serve millions of customers every week, in stores and online and provide View TSCO.UK financial statements in full. That dragged down other grocery stocks, including Sainsbury's (SBRY.L), Marks & Spencer (MKS.L) and Ocado (OCDO.L), as well as retailers such as JD Sports (JD.L). Fitch Affirms Tesco at 'BBB-'; Stable Outlook In the previous year, these ratios respectively stood at 0.71, 0.59, and 0.17. The company is quite big and having a registered in the London Stock Exchange. Companhia Brasileira De Distribuicao (CBD), Tesco receivables for the quarter ending February 28, 2023 were. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. TSCO Price/Earnings & PEG Ratios - Nasdaq Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. It indicates that the company has increased its payment position. Tesco is less leveraged with FFO adjusted gross leverage forecast at around 4.0x for FY22, versus ASDA's estimated around 6.0x for 2021 and WD FF Limited (Iceland, B/Negative) at 8.0x for financial year to March 2022. Financial Analysis Of TESCO PLC. 2019 2020 2021 2022 2023 50b 100b Net Income 2019 2020 2021 2022 2023 2.5b 5b 7.5b Cash flow in GBP View more In 2023, cash reserves at Tesco PLC fell by 206.00m. In the given case, the debt-to-equity ratio of Tesco was 0.53 in 2019, aging increased to 0.57 in 2020. One should emphasize that the operating profit margin excludes exceptional items to reflect ordinary operations, while the net profit margins include these items to show the whole of the operations. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. read more, Tesco's group sales rose 3.0% to 54.8 billion pounds in 2021-22, while UK like-for-like sales rose 0.4% as it gained market share. The company then had a debt to equity of 0.2, which is decreased to 0.17 (Guo, & Wang, 2019). Journal of Finance and Accounting Research,1(1), 34-51. ANALYST RECOMMENDATIONS : Ball, Barclays, Ocado, Tesco, Philip Morris JPMorgan Lowers Tesco PT, Maintains Overweight Rating, Retail media: The 3rd and biggest wave of digital advertising, Hungary's windfall tax and rising energy costs push foreign retailers into the red in 2022, New chief's 12 month notice period a headache for Hargreaves, Tesco : Notice of Annual General Meeting 2023, L'inflation des prix des produits alimentaires au Royaume-Uni diminue pour atteindre son plus bas niveau depuis le dbut de l'anne - Kantar, IamFire annonce une leve de fonds six chiffres pour WeShop, alors que les liens entre le site et le commerce de dtail se renforcent, Pas de reflux de l'inflation au Royaume-Uni, Pas de reflux de l'inflation au Royaume-Uni, en pleine crise du coût de la vie, Tesco s'en tient son plan pour viter les promotions forte teneur en sucre, malgr le retard pris par le gouvernement britannique dans l'application de la rglementation, Net Debt Please note that all comments are pending until approved by our moderators. J Sainsbury plc is one of the British leaders of food distribution. If the company is having a quick ratio of 1 or more than that, in such case, it will be in an advantageous position (ztrk&Karabulut, 2018). If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. It was a huge honour for me to be asked to lead Tesco. The current ratio can be calculated by comparing the current assets and current liabilities. London Stock Exchange uses cookies to improve its website. Stock Screener. As a supplier, I always had enormous admiration for Tesco - its people, passion, and expertise. The companys inventory turnover ratio was 24.26 times in 2019, which decreased to 23.83 times in 2020. Interest Cover Ratio Tescos Interest Cover also increased significantly to 4.1 in 2019 from 2.7 the previous year. through 3,822 stores. Tesco reports 6% increase in revenue for fiscal year 2021-22 In this regard, it can be concluded that evidently, the biggest driver of the companys increased efficiency is its human capital rather than its processes and functions. - distribution in the United Kingdom and Ireland (91.3%): food and non-food distribution (textile products, pharmaceuticals, computers, optics, household appliances, etc.) London Stock Exchange Tesco PLC : TSCO Stock Price | GB00BLGZ9862 | MarketScreener (2019). London Stock Exchange Profit hits 2021-22 guidance, but now forecast to fall, Uncertainty forces Tesco to give wider forecast range. Tescos PLC Efficiency ratios are summarised as follows: The Inventory Turnover, Receivables Turnover, and Payables Turnover ratios of Tesco PLC remained relatively unchanged in 2019 compared to 2018 at 16 days, 9.4 days, and 53.9 days respectively. 152 000. Ratio Analysis Of Tesco And Sainsbury With Comparison - SourceEssay %USER_NAME% was successfully added to your Block List. Gearing Ratio vs. Debt-to-Equity Ratio: What's the Difference? Gearing Ratios: What Is a Good Ratio, and How to Calculate It, How ROA and ROE Give a Clear Picture of Corporate Health, How to Evaluate a Company's Balance Sheet, 6 Basic Financial Ratios and What They Reveal. Fear? Get expert assignment help services. Tesco PLC, TSCO:LSE forecasts - FT.com Interest coverage ratio provides information about the covering of the interest payable by operating profit. TESCO PLC., is the UK's largest retailer and one of the world's leading international retailers. Assets A company with higher inventory turnover will be having, and inventory turnover indicates a higher income probability as it sells its frequent compared to others. TESCO PLC., is the UK's largest retailer and one of the world's leading international retailers. Please check your download folder. Abdul, A. A higher gearing ratio indicates that a company has a higher degree of financial leverage and is more susceptible to downturns in the economy and the business cycle. Gibson, C. (2008) Financial reporting and analysis: using financial accounting information. Netflix, Inc. Common Stock . Tesco Plc Company's Revenues and Market Segment These include white papers, government data, original reporting, and interviews with industry experts. Our Standards: The Thomson Reuters Trust Principles. 2022 10:01. Annual Report 2022 Our world | Annual Report 2022 Annual Report 2022. British supermarket chain Tesco has reported that its group sales rose by 2.4% in the third quarter (Q3) of 2021-22 on a like-for-like (LFL) basis compared with a year earlier. Thanks for your comment. 2025 Backlinks from other websites are the lifeblood of our site and a primary source of new traffic. The gearing ratios reflect the capital structure of a company. Tesco has reached this position through consistent focus on their four part strategy for growth: Tesco has a strong, growing core UK business offering customers excellent value, choice and convenience; Tesco aims to be as strong in non-food as it is in food; Tesco follows the customer into new areas like retailing services such as financial products (Tesco Personal Finance), internet shopping (Tesco.com) and telecoms (Tesco telecom offers mobile, fixed line and broadband services) & Tesco is a leading international retailer with a long term strategy for growth. Apple's EV went from $928 billion at the end . Regulated entities typically have higher gearing ratios as they can operate with higher levels of debt. Updated: Oct 11th, 2022 . The debt-to-equity ratio is calculated by comparing the involvement of debt compared to equity. Shares in the company, which has a more-than 27% share of Britain's grocery market, were down 5% at 0931 GMT, the biggest decline of a blue-chip stock in Europe. Net sales break down by activity as follows: - food distribution (98.6%): as of 07/03/2022, owned 809 convenience stores and 598 supermarkets (Sainsbury's name) located in the United Kingdom. The company has started its business in 1919 and it is being carried for almost 102 years. A high gearing ratio typically indicates a high degree of leverage, although this does not always indicate a company is in poor financial condition. The gearing ratio is a measure of financial leverage that demonstrates the degree to which a firm's operations are funded by equity capital versus debt financing. Profitability ratios in the early stages of a startup. Gearing is a measurement of the entitys financial leverage, which demonstrates the degree to which a firm's activities are funded by shareholders' funds versus creditors' funds. Gearing ratios are financial ratios that compare some form of owner's equity (or capital) to debt, or funds borrowed by the company. Are you sure you want to block %USER_NAME%? It indicates that the companys performance related to debtors management neither increased nor decreased. Tesco | Company Overview & News Compare TSCDY With Other Stocks Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. In the given case, the following three ratios will be calculated. Tescos PLC Efficiency ratios are summarised as follows: The biggest indicator of the increased efficiency of Tescos operations in 2019 compared to 2018 was the Sales Revenue Per Employee which jumped significantly to 140.6K compared to 130.5K the previous year as indicated. However, Tesco's leverage is higher than Ahold Delhaize's at around 3.0x. Reply. However, in order to maintain the high level of discourse weve all come to value and expect, please keep the following criteria in mind: Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.coms discretion. The statistics below reflect the latest published information. Entities with a high gearing ratio have higher amounts of debt to service, while companies with lower gearing ratio calculations have more equity to rely on for financing. The quick ratio of Sainsbury was 0.475 in 2019, which increased to 0.486. The relationship between earnings-to-price, current ratio, profit margin, and return is an empirical analysis of the Istanbul stock exchange. EV is calculated by finding the sum of the company's market cap and its total debt and subtracting that figure by total cash and cash equivalents. We utilize security vendors that protect and https://ivypanda.com/essays/tesco-plc-financial-analysis-and-recommendation/, IvyPanda. In the given case the company was having a debtors turnover of 43.11 times in 2019, which is increased to 43.96 in 2020. JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi),4(2), 304-312. Compared to the results of Tesco, it is identified that the inventory turnover of the Sainsbury is on a lower side as it was having an inventory turnover of 14.6 times in 2019 and 14.74 in 2020. Save . The quick ratio helps in estimating Real time solvency for the company. The quick ratio of Tesco was 0.47 in 2019, which is not a favorable position; however, bu increasing the current assets and decreeing the inventory the company has helped with controlling the is solvency position. She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies for financial brands. Tesco PLC is a British company that distributes groceries, and it is passionate about providing services to clients in an improved manner each day, either in their stores or online interactions. A leverage ratio is any one of several financial measurements that look at how much capital comes in the form of debt, or that assesses the ability of a company to meet financial obligations. Tesco Plc Financial Analysis and Recommendation. Thus, the sales decrease is not higher than Tesco, but it is very poor than Tesco (Laitinen, 2017). = New York: Cengage Learning. The figure was slightly above the 2015 value of 1.79 and the 2016 value of 1.57 ("Tesco PLC (OTCPK: TSCDY)," 2017). Key Assumptions Exclusive news, data and analytics for financial market professionals, Reporting by James Davey Editing by Kate Holton and Mark Potter, PepsiCo says no plans to change portfolio as WHO set to warn on aspartame sweeteners, Australia No.3 bank reaches union deal that lets staff work from home, Amazon's 'biggest ever' Prime Day boosts US online sales to $12.7 billion, Mitsubishi's China venture with GAC to cut staff costs after SUV sales dive, Mexico govt no longer interested in buying Citigroup's local retail unit, Exclusive: JP Morgan says client shares in Russia's Magnit may be missing, Bosch ups investment in hydrogen, begins fuel-cell power module production, Texas power use breaks record for second day in heat wave. Tesco said three factors would influence its performance - the return to more normal customer behaviour after the COVID-19 pandemic, its ability to offset higher costs with savings elsewhere in the business, and the investment required to keep prices competitive. Allad, (2017)I. Gross Profit Of Sainsbury The inventory turnover ratio of Sainsbury is almost half than the inventory turnover of Tesco. A. must. Downloads We deliver value for every stakeholder in our business. By Emily Mason Forbes Staff Jun 8, 2023 4 supermarket group Morrisons warned its annual profit could be hit by the conflict and rising inflation. Soaring energy prices, as well as increased labour costs, have added to the cost of doing business. Tesco Current Ratio 2010-2023 | TSCDY | MacroTrends In 2019 the debtors turnover ratio for Sainsbury was 40.26, which is increased to 40.24. "Tesco Plc Financial Analysis and Recommendation." June 15, 2022. https://ivypanda.com/essays/tesco-plc-financial-analysis-and-recommendation/. Finally, industries that use expensive fixed assets typically have higher gearing ratios, as these fixed assets are often financed with debt. Gearing Ratios: Definition, Types of Ratios, and How To Calculate During this period, the company also intentionally sought to drive down its operating costs as shown in its annual report, which in the event significantly increased its operating efficiency. Tesco debt/equity for the three months ending February 28, 2023 was 0.46. Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. Finance & Economics Review,2(2), 13-26. TotalEquity The service area is also big as the company is servicing it over the United Kingdom, Ireland, India and others. Accordingly, the ratios provide potential investors with a clear picture of the companys expected future performance (Gibson, 2008). professional specifically for you? Energy. Our net debt to EBITDA ratio was 2.5 . Your ability to comment is currently suspended due to negative user reports. Tesco is a multi-format business, operating hypermarkets, superstores, supermarkets and convenience stores. TESCO PLC., is the UK's largest retailer and one of the world's leading international retailers. The database is updated daily, so anyone can easily find a relevant essay example. Despite a challenging year for the bank industry, 302 banks appear on Forbes' 2023 Global 2000 list, up from 292 in 2022. Industry data has shown Tesco consistently outperform its three biggest rivals - Sainsbury's, Asda and Morrisons. Copyright 2023 - IvyPanda is operated by, Tesco Plc Financial Analysis and Recommendation, Tesco defends payouts amid warnings over profit hits from coronavirus, Tesco group revenue in the United Kingdom (UK) 2015-2020, Southwest Airlines' Strategic Corporate Finance, Morrison Supermarkets: Marketing Planning and Promotion, British Pound and U.S. Dollar Exchange Rates, United Kingdom: Balance of Payments Analysis, Reflection on the Seminar Dedicated to Financial Statement Ratios, Tesco and Sainsbury Companies' Capital Structure, Tesco and Carrefour Companies' Financial Analysis, British Petroleums 2012 Financial Reporting, Audit Report for the University of Alabama System, ITEX Corporation 2012 Financial Performance and Position, Decision-Making Analysis: Piedmont Fasteners Corp. Return on Shareholders Funds This ratio declined to 8.88% in 2019, down from 11.5% in the previous year. This comment has already been saved in your. The retailer's sales for the six weeks to 8 January grew by 3.2%. The gross Profitability of Tesco was 7.3% in 2019 but is decreased to 7.1%.The major reason for such a decrease in the cost of sales. In terms of the liquidity ratios, it was seen that Tesco saw a current ratio of 0.61 and a quick ratio of 0.48. The profitability ratios uphold a companys profitability position, which shows its earning capacity related to sales and investment. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Although this figure alone provides some information as to the companys financial structure, it is more meaningful to benchmark this figure against another company in the same industry. Free-Float. EBIT Five year record. Instead, a company with a high gearing ratio has a riskier financing structure than a company with a lower gearing ratio.
Iterator Remove Time Complexity,
Arctic Monkeys Singapore Ticket,
Lake Atitlan Spiritual,
Articles T
tesco gearing ratio 2022
