Tesco looking tasty

Last year I sold my Tesco shares at a healthy profit once they reached 440p. As the stock is now at 410p that would have looked like a good move if I hadn't invested some of the proceeds in banks!

Anyway after reading Tesco's latest annual report the stock has come back on my radar again. What do I like about Tesco?

• Constant overseas expansion means Tesco gets more internationally diversified each year
• Management have a proven track record
• Property portfolio worth as much as 200p per share at market value
• 3% yield that grows in line with the EPS
• Exposure to Chinese market

Tesco is not a stock that is going to double in the next 3 years or so. Its size and 12% growth rate will see to that. But it is a worthy member of any income portfolio thanks to its defensive properties and steady dividend growth. With the stock down from its highs of last year now is a great time to start accumulating some.