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Morrisons reports rising sales and profits

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Morrisons, the UK’s fourth-biggest supermarket chain, has reported rising sales and profits for the first half of the year.

Like-for-like sales were up 3% for the six months to 30 July, while underlying profit was up almost 13% at £177m.

After a turbulent period two years ago, Morrisons has been going through a major reorganisation, led by chief executive David Potts.

He said that “a new Morrisons is beginning to take shape”.

Morrisons recently signed a deal to become the UK wholesale supplier to convenience store chain McColls.

It has also formed a tie-up with Amazon and has invested in its range of “premium” products.

2017-09-14 11:52:09

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