Strong performance propels Morrisons into third consecutive year of growth
Supermarket group Morrisons is entering its third consecutive year of growth after seeing revenue and profits rise in what its chief executive hailed “a strong year”.
For the 53 weeks to February 2018, the group reported a 2.8% rise in like-for-like sales excluding fuel and VAT, while revenue rose 5.8% to £17.3bn, up from £16.3bn in the prior year period.
Underlying profit before tax came in at £374m, up 11%, while the retailer said reported pre-tax profits stood at £380m, up 16.9% from £325m the year before.
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