Morrisons sees profits for 2009 up 30% beating forecasts
Morrisons sees profits for 2009 up 30% beating forecasts
Thursday 11th March 2010
UK supermarket chain Morrison has seen its profits for 2009 surge 30 per cent, beating financial forecasts.The firm said like-for-like sales, excluding fuel and VAT, were up six per cent, with profit before tax at £858 million in 2009, compared to 2008's £655 million.
Underlying profits were up 21 per cent, the firm announced, at £767 million, while weekly customer numbers rose by seven per cent and there were 43 new stores created – making 10,000 new jobs available.
Sir Ian Gibson, non-executive chairman, said: "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.
"We expect the economic environment to remain challenging, disposable incomes to be under pressure and value to remain a high priority for consumers. The board believes that Morrisons unique offer of high quality, fresh food at great value prices will continue to attract customers from our competitors and drive market share growth in the year ahead."
Dalton Philips will take up his role as our new chief executive of the supermarket chain on March 29th.
Related News
BP announces deal to search for oil off Brazilian coast - 11/03/10
Oil giant BP has announced today it has secured a deal to begin deepwater offshore exploration for oil off the Brazilian coast
Oil giant BP has announced today it has secured a deal to begin deepwater offshore exploration for oil off the Brazilian coast
Mexican billionaire Carlos Slim tops Forbes rich list - 11/03/10
According to the Forbes rich list Carlos Slim, the Mexican telecoms bazillionaire, has pushed Bill Gates off the top spot as the world's richest man
According to the Forbes rich list Carlos Slim, the Mexican telecoms bazillionaire, has pushed Bill Gates off the top spot as the world's richest man
BA and union leaders reach stalemate over threatened strikes - 11/03/10
Leaders for Unite and British Airways (BA) will be meeting later today to decide if, and when, strikes by cabin crew will be held
Leaders for Unite and British Airways (BA) will be meeting later today to decide if, and when, strikes by cabin crew will be held
FTSE 100 unchanged in early trade as Thomas Cook leads gainers - 11/03/10
Britain's leading shares index the FTSE 100 was unchanged by 10:10 GMT, as Thomas Cook Group led the gains
Britain's leading shares index the FTSE 100 was unchanged by 10:10 GMT, as Thomas Cook Group led the gains
Britain's leading shares index closes up 0.68% on Wednesday - 10/03/10
The FTSE 100, the UK's leading shares index, closed up 0
The FTSE 100, the UK's leading shares index, closed up 0
News Article Search
Quick Apply
News Archive