UK-based retailer Morrisons has reported an increase in profit before tax of 12.8 per cent to €385m for the 26-week period ended 3 August.
Underlying profit before tax jumped 18.5 per cent to €368m during the period, with total turnover up 13.5 per cent to €8.8bn.
Like-for-like sales excluding fuel grew 7.6 per cent, with customer numbers up by 4.7 per cent in like-for-like stores.
'This is a solid set of interim results in the toughest trading environment seen for many years,' said non-executive chairman Ian Gibson. 'The management team is very focused on delivering great day-to-day value to our customers, as well as the longer-term vision of being the 'Food Specialist for Everyone.''
'To have grown like-for-like sales by 7.6 per cent in this economic climate is a clear testament to the strength of Morrisons recovery,' added group CEO Marc Bolland. 'More shoppers are choosing Morrisons because of our price crunching deals and our unrivalled fresh offer in store.'
The group announced that it is set to open eight new stores during the second half of the year, and that it is on track to grow annual like-for-like sales ahead of the overall market by 2010.
No comments yet