Morrisons reports rise in profits

Galtero Lara
Marcha 14, 2018

United Kingdom retailer Morrisons has reported that revenue increased by 5.8% to £17.3 billion previous year, with group like-for-like sales up 2.8%.

Revenue rose by 5.8 per cent to £17.3bn and the company also said that it had chose to pay shareholders a special dividend of 4 pence.

The Bradford-based group saw its revenue rise 5.8% to £17.3bn, with group like-for-like sales excluding fuel and Value-Added Tax up 2.8%, up from 1.9% a year earlier, benefiting from an improved performance from stores as well as a push into wholesale and online markets.

Morrisons declared a final ordinary dividend of 4.43p, taking the full-year ordinary dividend to 6.09p, up 12.2 percent year-on-year, and further declared a special dividend per share of 4.00p.

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"We had a strong year, becoming more competitive and increasingly differentiating Morrisons for all stakeholders".

"A lot of credit has to go to Dave Potts and co as the Fix, Rebuild and Grow strategy is starting to produce consistent growth on growth as it enters its fourth year of turnaround".

Morrisons said sales of local suppliers' foods had risen 50% in the past two years after signing deals with more than 200 farmers and other local food producers and tailoring stores to regional tastes.

Morrisons shareholders will get their hands on a bumper payout this year after its booming wholesale business and strong in-store sales boosted full-year profits.

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