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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Tesco PLC    TSCO   GB0008847096

TESCO PLC

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Cleaning up: COVID-19 vaccine will not derail disinfectants market, industry exec says

11/26/2020 | 11:24am EST
Ecolab employees on the filling line prepare the Skinman Soft Protect FF virucidal hand rub that is supplied to the NHS

NORTHWICH, England (Reuters) - Vaccines against COVID-19 will take some steam out of the market for hygiene products, but demand will remain above pre-pandemic levels as frequent hand-cleaning is here to stay, an executive at Ecolab, a leading firm in the sector, said on Thursday.

Ecolab has supplied Oxford's vaccine-makers, supermarkets such as Tesco and England's National Health Service (NHS) with products during the pandemic this year, and supplies three million commercial sites globally.

In the summer, it signed a deal with the NHS to supply 5 million litres of hand sanitiser, which Sam De Boo, Ecolab's President for Western Europe, said was the firm's biggest one-time customer order.

But with two COVID-19 vaccines on course for possible approval in Britain before the end of the year, that demand will be tempered.

"It will of course go down from these current peak levels (but) we do believe it will be higher than 2019," De Boo told Reuters on Thursday.

"For hand hygiene, we think that still the market will be 30% to 50% higher than it used to be. But of course, where we currently see an explosion of ... five to ten times more - that will normalise."

Ecolab said on Thursday that two products - a hand-rub and a surface disinfectant - had been shown to be specifically effective against SARS-CoV-2 following tests in Germany.

The World Health Organization says the coronavirus can be spread via surfaces though the main route is through droplets.

British health minister Matt Hancock has said society should start getting back to normal after Easter, but that increased hand-washing was a "no regrets thing" that would become commonplace.

De Boo said: "In the past, when you did not see, let's say any dirt or any soil, you felt it was clean and it was trusted. People who have ... lived through this pandemic, I think, will have a very different understanding on that going forward.

"I think there is a mindset change."

(Writing by Alistair Smout; editing by Stephen Addison)

By Jason Cairnduff


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ECOLAB INC. -0.76% 212.39 Delayed Quote.-1.83%
TESCO PLC -0.08% 241.9 Delayed Quote.4.54%
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Financials
Sales 2021 58 864 M 80 538 M 80 538 M
Net income 2021 797 M 1 090 M 1 090 M
Net Debt 2021 11 510 M 15 748 M 15 748 M
P/E ratio 2021 25,0x
Yield 2021 3,16%
Capitalization 23 548 M 32 174 M 32 218 M
EV / Sales 2021 0,60x
EV / Sales 2022 0,56x
Nbr of Employees 405 506
Free-Float 97,7%
Chart TESCO PLC
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Tesco PLC Technical Analysis Chart | TSCO | GB0008847096 | MarketScreener
Technical analysis trends TESCO PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 281,21 GBX
Last Close Price 241,90 GBX
Spread / Highest target 30,2%
Spread / Average Target 16,2%
Spread / Lowest Target -9,05%
EPS Revisions
Managers and Directors
NameTitle
Ken Murphy Group Chief Executive Officer & Director
John Murray Allan Non-Executive Chairman
Antony John Hoggett Chief Operations Officer
Alan James Harris Stewart Chief Financial Officer & Executive Director
Guus Dekkers Chief Technology Officer
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