Morrisons has outdone predictions and landed its “best year yet” with an 8 per cent rise in pre-tax profits up to £935 million for the year to 29 January.
The supermarket’s CEO, Dalton Phillips, said Morrisons responded to the tough economic climate with the re-launch of its budget M savers brand.
Going into 2012, Phillips said it will be tough but its grand plans for expansion are still going ahead.
“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,” he said.
“I am confident that Morrisons will make further progress this year.”
In the 12 months to 29 January, Morrisons opened 34 new supermarkets and customer numbers were up 400,000 per week.
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