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Morrisons profits rocket

Rise in shopper numbers drives Morrisons rise in sales and profits in the half year to 2 August

CITY & CORPORATE

Morrisons profits rocket

Rise in shopper numbers drives Morrisons rise in sales and profits in the half year to 2 August

Pre-tax profits for the period totalled £449m, against £309m over the same period the previous year. Underlyin
g pre-tax profits (excluding property disposal gains and a pension credit) grew by 22 per cent to £359m. Turnover rose to £7.5bn from £7.1bn.

Like-for-likes excluding VAT and fuel was up 7.8 per cent. 22 new stores opened in the period and 5000 jobs were created.

Marc Bolland, Chief Executive, said: 'This has been an excellent first half performance from Morrisons, continuing our run of market beating sales growth. We offer great value to our customers, particularly our offers on fresh food delivered through our own preparation facilities, which have been hugely popular with a growing number of customers. 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.'

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