Share Prices & Company Research

Press Release

14 March 2018

Morrisons continues to prosper

Morrisons’ turnaround programme has continued as the supermarket has announced a 17% rise in full-year pre-tax profits.

Chairman Andrew Higginson said Morrisons was entering its third consecutive year of growth as the organisation made underlying profits of £374m in the year to 4th February 2018, up from £337m the previous year. Revenues rose by 5.8% from £16.3bn to £17.3bn.

Roy Kaitcer, Investment manager, Redmayne Bentley, said: “Morrisons has achieved these results simply by going back to basics. Buying from UK suppliers is paying off as by predominantly using a British supply chain, they’re keeping prices competitive, cutting out rising import costs.

“Tesco is another supermarket that’s been performing better but Sainsburys is struggling to maintain its market share. I think the prospects are good for Morrisons and it still continues to prosper in a competitive environment.”
Morrisons continues to prosper
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