Morrisons chief executive Marc Bolland this morning (10 September) hailed an “excellent” first half of the year after the retailer posted strong sales and earnings growth.
Go deeper with GlobalData
The UK’s fourth-largest grocer booked a 5% rise in turnover to GBP7.5bn (US$12.39bn), while like-for-like sales, excluding VAT and fuel, climbed 7.8%.
Pre-tax profits jumped 45% to GBP449m but were boosted by a pensions credit of GBP91m and property disposal proceeds that totalled GBP3m. Underlying pre-tax profits rose 22% to GBP359m.
“This has been an excellent first-half performance from Morrisons, continuing our run of market beating sales growth,” Bolland said. “The business is performing well in all parts of the country and we are making good progress on our plans to move from national to nationwide.”
Morrisons’ full results release is here; check back later for more news in the wake of the retailer’s mid-morning press conference.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
