Morrisons has reported on a strong set of results for the full-year ended 29 Januar 2012, despite what is described as a 'challenging environment' in the UK grocery retail market.

For the 12-month period, Morrisons recorded underlying profits before tax of £935m (€1.1bn), growth of 8 per cent, while profit before tax climbed from £874m (€1bn)to £947m (€1.1bn).

Like-for-like sales excluding fuel came in 1.8 per cent higher, rising from growth of 0.9 per cent in the prior-year period, while turnover jumped 7 per cent to £17.7bn (€21.2bn)from £16.5bn (€19.8bn).

Through the year, Morrisons saw record customer numbers, up on average by 0.4m people per week, while the group opened 34 new supermarkets in the country and relaunched its own brand through itsM Kitchen and M Savers ranges.

'This was another good year for Morrisons, despite a tough economic backdrop,' said Sir Ian Gibson, chairman of Morrisons. 'Record numbers of customers visited our stores and we delivered an 8 per centincrease in underlying earnings and an 11 per centincrease in the dividend, whilst also investing for the long term health of the business.'

CEO Dalton Philips acknowledged that the year had been Morrisons' 'best yet', but also warned of an uncertain outlook in 2012.

'We know that 2012 will be tough, and we will be working hard to deliver even better value for our customers,' he explained.'At the same time, we have ambitious plans for the long term development of the business, through new supermarkets, convenience stores and the development of our multi-channel capabilities. I am confident that Morrisons will make further progress this year.'

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