Sep 14, 2017
Morrisons reports rising sales and profits
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.
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