Morrisons sees positive growth for the year

08 March, 2012

Morrisons has announced a 7% increase in turnover, for the year ended 29 January 2012, with underlying profits before tax up 8% to £935m.

The retailer also achieved like-for-like sales (excluding fuel and VAT) growth of 1.8%.

Dalton Philips, chief executive, told the BBC this morning (8 March) that the retailer was looking to take its fresh food online next year, and had been learning from its stake in online retailer Fresh Direct.

Morrisons noted that operational highlights had been the opening of 34 new supermarkets, as well as its own-brand relaunch through its M Kitchen and M Savers ranges.

The firm said its first three trial M local convenience stores had performed well, with further expansion planned for 2012.

Philips said: “We know that 2012 will be tough, and we will be working hard to deliver even better value for our customers. At the same time, we have ambitious plans for the long-term development of the business, through new supermarkets, convenience stores and the development of our multi-channel capabilities.”





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