Food
Morrisons bullish after record profitsSimeon Goldstein, 12 March 2010Be the first to comment on this article Morrisons has reported record profits last year on the back of increased customer numbers and new store openings increased pre-tax profits by 31%. In a preliminary statement this morning, Morrisons revealed sales last year rose 6% to £15.4bn as more customers shopped at its stores and 43 new branches opened. Pre-tax profit for the year increased by 31% to £858m but non-executive chairman Ian Gibson warned that the firm expected the economic environment would remain challenging. “Morrisons had another good year. Once again our focus on fresh food and great value appealed to shoppers everywhere and we have successfully grown sales and profits to record levels,” he said. “We expect disposable incomes to be under pressure and value to remain a high priority for consumers. But the board believes that Morrisons offer of high quality, fresh food and great value prices will continue to attract customers from our competitors and drive market share growth in the year ahead,” said Gibson. Morrisons new chief executive Dalton Philips will take up the reins on 29 March. MORRISONS 2009 PRELIMINARY RESULTS Turnover £154.bn (£14.5bn) Speak Your Mind |
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