Morrisons has reported like-for-like sales growth of
7.6% and record profits of ?309m in its financial
results for the first half of 2008.
The supermarket giant saw pre-tax profits climb by 12.8%
from last year's figure of ?274m,, including ?6m
generated by property disposals.
But it was the like-for-like sales growth, excluding
fuel, of 7.6% - contributing to an overall increase in
turnover of 13% to ?7.1bn - that will have most
impressed in the current economic climate. Last year the
retail heavyweight notched up sales totalling ?6.3bn for
the 26-week period.
"To have grown like-for-like sales by 7.6% in this
economic climate is a clear testament to the strength of
the Morrisons recovery," said chief executive Marc
Bolland. "More shoppers are choosing Morrisons because
of our price-crunching deals and our unrivalled fresh
offer in store."
Non-executive chairman Sir Ian Gibson added: "This is a
solid set of interim results in the toughest trading
environment seen for many years. 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."