Morrisons in profits hike

MorrisonsSupermarket chain Morrisons which has branches across the Black Country and Staffordshire has nearly doubled its profits.

The supermarket today reported pre-tax profits for 2007 of £612m, up from £369m in 2006 as long-standing chairman Sir Ken Morrison retired from his post.

Like-for-like sales at the Bradford based grocer, excluding fuel sales, rose 4.6%, down from the 5.2% in 2007.

The results suggest the chain, the UK’s fourth-largest, has revived its fortunes after buying Safeway in 2004.

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This article posted on March 13, 2008 at 8:11 am.
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2 Comments

  1. TIPTON BORN AND BRED said: Mar 13th, 2008 at 11:17 am

    greedy supermarkets there all the same if you notice the prices are just about the same,cheese at asda 1.49
    tesco 1.48,morrisons 1.50 there all in it together to think we’re getting a good deal while there raking in the profits please use your local markets and town shops you’ll find real bargains there and not pile them high ripoff prices.

  2. Bob said: Mar 13th, 2008 at 5:14 pm

    The retailers profits are up while the producers get squeezed and go bust. Who produces our food then ????

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