Outgoing Morrisons CEO Mark Bolland is exiting with the group in good shape, as the UK retailer reported on profit growth up to £858m (€941m) for 2009 from £655m (€718.7m) in 2008, and like-for-like sales growth of 6 per cent.

Turnover for the 12-month period rose 6 per cent to £15.4bn (€16.9bn), while net debt climbed to £924m (€1bn) from £642m (€704m) on the back of a £906m (€994m) capital investment.

Weekly average customer numbers jumped 7.2 per cent on 2008, the group reported, with 45 new stores launched through the year.

'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,' said non-executive chairman Sir Ian Gibson. 'We completed delivery of the Optimisation Plan first launched four years ago, and we are well on the way to cementing our position as the Food Specialist for Everyone. The opening of 43 new stores in the year accelerated our journey from National to Nationwide.'

Looking ahead to 2010, Mr Gibson noted that the economic environment would pose challenges for Morrisons, but said the group's board remained confident that the retailer's food selection would remain attractive to customers whose disposable income was under pressure.

'For the longer term, we will continue to utilise our balance sheet strength to invest for growth, with new space, new manufacturing capability and new systems priorities in the year ahead,' he added.

Dalton Phillips will take over the role of CEO at the group on 29 March 2010, Mr Gibson confirmed, replacing the Marks & Spencer-bound Bolland.

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