Morrisons reports increased profit despite rising costs
Morrisons has recorded a 13% increase in pre-tax profit to £309m for the first half of the year, despite soaring costs.
The supermarket giant reported that its total turnover rose 14% to £7.1bn in the period to 3 August.
The company said that it had seen crude oil prices increase 66% in the past year, impacting on the cost of packaging and distribution.
Sir Ian Gibson, non-executive chairman, said: "This is a solid set of results in the toughest trading environment seen for many years."
Morrisons revealed that it will give away re-useable plastic bags to customers in November. A similar initiative held in June gave away 10m bags to customers.
The company said its carrier bag usage had fallen 22% year-on-year.
The supermarket said it plans to open eight new stores in the second half of the year.
Morrisons will give away re-useable bags in November
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