Trolley good year
MORRISONS today hailed “another good year” as profits climbed 21% and sales hit record levels. The UK’s fourth biggest supermarket chain reported pre-tax profits of £767m for the 12 months to January 31, from £636m in the previous year. Morrisons, which said it expects economic conditions to remain challenging this year, saw like-for-like sales growth slow across the period to 6%, compared with 8.2% the year before.
Turnover rose 6% to £15.4bn.
Early breakfast at pub
EARLY risers will be able to eat their breakfasts at a JD Wetherspoon pub from next month after the chain today announced plans to extend its morning opening hours. Wetherspoon is planning to open at 7am from April 28 after five years of breakfast trading from 9am.
The group also hailed record profits and sales despite a difficult trading environment that has seen many smaller pubs collapse. Profits before tax and exceptional items rose 17.5% to £36.2m in the 26 weeks to January 24 on total sales up 4.1% at £488.1m.
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