Morrisons reports third consecutive year of profit growth

Morrisons

Morrisons, Britain's No. 4 grocer beat forecasts with an 11 percent rise in full-year profit, benefiting from an improved performance from stores as well as a push into wholesale and online markets, and said it would pay a special dividend.

Although the discounters are still winning market share, Potts has delivered nine straight quarters of like-for-like sales growth and industry data published last week showed Morrisons and Tesco TSCO.L were jointly the fastest growing of the big four over the last three months.

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%.

"Morrisons is now entering its third consecutive year of growth, which is a credit to the whole team", chairman Andrew Higginson said.

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.

What's new with the Raspberry Pi 3 Model B+?
The Raspberry Pi 3 Model B + is on sale now, and maintains the same price point at $35 (around £25, AU$45). In short, the upgraded Pi promises more speed and power.

The supermarket said it has seen "meaningful, sustainable sales and profit growth, with strong cash flow" for 2017, having returned £237m to shareholders in accordance with its capital allocation framework and reducing its debt by £221m to £973m, below the £1bn year-end target.

Under Chief Executive David Potts, Morrisons, the smallest of Britain's big four grocers, is trying to broaden its business by improving the performance of its 500 United Kingdom stores while also pursuing growth in online and wholesale markets.

During the past year, Morrisons started a programme to supply McColl's with branded products and Morrisons' own Safeway brand across the country.

"All parts of our progress so far have one common link: our colleagues".

Related News:

  • North Carolina chefs among James Beard nominees

    North Carolina chefs among James Beard nominees

    Gerard Craft of Niche won "Best Chef: Midwest" in 2015 , and Kevin Nashan of Sidney Street Cafe took the same award past year . Post-Dispatch restaurant critic Ian Froeb is a member of the James Beard Awards restaurant and chefs awards committee.
    Sea of Thieves The Quest

    Sea of Thieves The Quest

    The Quest For The Golden Bananas begins 7:00PM AEDT on March 19, where clues will be revealed every 3-4 hours for three days. The final clue will be released on 21 March at 9pm GMT, when teams can submit all of their answers.
    Marqise Lee: Staying in Jacksonville

    Marqise Lee: Staying in Jacksonville

    According to an NFL Network report, the agreement is for four years and $38 million, with $18 million guaranteed. Moncrief grabbed seven touchdowns on just 30 catches in 2016, though he managed only two scores in 2017.
  • Josh Groban, Idina Menzel set arena tour together

    Josh Groban, Idina Menzel set arena tour together

    That success allowed Menzel to record several albums, including 2016's " Idina ", and carve out a career in television and film. Simultaneously he is also working on his eighth studio album to be released later in 2018.
    Jose Mourinho mocks previous Man United defeats in astonishing post-match rant

    Jose Mourinho mocks previous Man United defeats in astonishing post-match rant

    About 60 years ago, Sevilla eliminated Danish club AGF to make it to the last eight in the European Cup for the last time. Salah joined Liverpool from AS Roma last summer after his first spell in the Premier League with Chelsea was unfruitful.
    Former 49ers RB Carlos Hyde expected to sign with Browns

    Former 49ers RB Carlos Hyde expected to sign with Browns

    The Giants' starting running-back spot remains open, a spot Barkley could fill, if the Browns pass on him now that they have Hyde. Hyde lands in with a team more committed to its ground game and the kind of offensive line needed to make it work.
  • IShares 3-7 Year Treasury Bond (IEI) Rises 0.1% for Mar 12

    A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Finally, Ausdal Financial Partners Inc. lifted its position in iShares Select Dividend ETF by 43.9% in the third quarter.
    WEATHER WARNING: Snow storms to hit Peterborough as cold snap returns

    WEATHER WARNING: Snow storms to hit Peterborough as cold snap returns

    Temperatures will gradually get colder as we head towards the weekend, with the weather not expected to get above 2°C on Saturday.
    Releasing Jordy Nelson not an easy decision for Brian Gutekunst

    Releasing Jordy Nelson not an easy decision for Brian Gutekunst

    Nelson, who was slated to count $12.5 million against the Packers' salary cap, reportedly wasn't willing to take a pay cut. It would be the easiest transition for Nelson, as he'd go from Rodgers throwing him the ball to Tom Brady.
  • National Football League  free agency rumors: Packers releasing Jordy Nelson, signing Jimmy Graham

    National Football League free agency rumors: Packers releasing Jordy Nelson, signing Jimmy Graham

    Jordy will always be a member of the Packers family and we look forward to his eventual induction into the Packers Hall of Fame. To some surprise, he is instead signing with the Green Bay Packers, according to multiple reports Tuesday afternoon.
    Duterte announces Philippines' 'immediate' withdrawal from ICC

    Duterte announces Philippines' 'immediate' withdrawal from ICC

    Senator Antonio Trillanes said Duterte was withdrawing "because he knows that there is no way out for him in the ICC". The prime minister says the president of the Philippines was receptive to concerns he raised about human rights.
    Chinese reporter's eye roll goes viral

    Chinese reporter's eye roll goes viral

    This year, it has drawn heightened attention for a constitutional amendment that abolished term limits for President Xi Jinping. This also led to censors trying to contain the hysteria as Liang's name became the second most blocked name on Weibo.


Most liked

Celebrate Pi Day 2018 With A Slice Of Pie
It gets even better on Pi Day: bring this coupon and buy one buffet at regular price, get a second one for, spoiler alert, $3.14. Grand Traverse Pie Company: Offering a free slice of (Michigan Apples, Blueberries, Cherries) pie with any purchase.

3000 made redundant as Toys 'R' Us shutters United Kingdom stores
Toys R Us has confirmed it will close all 100 of its United Kingdom stores after attempts to find a buyer for the retailer failed. It's believed around 25 stores will be shut down tomorrow, with the remaining 75 being closed down over the next six weeks.

Best Ways To Celebrate St. Patrick's Day In St. Louis
This is a day-long event and after 8 p.m.it is reserved for 21 and over when all-inclusive food and beverage packages begin. The Irish Pub in Kranj is hosting Saint Patrick's Day celebrations on the nights of Friday 16 and Saturday 17.

Miley Cyrus Sued for Copyright Infringement Over "We Can't Stop"
Mind you, Flourgon's song never charted in the USA , and it came out 4 years before Miley was born, but anyway. here's his claim. While the complaint did not specify damages, May's lawyers in a press statement described it as a $300 million case.

Minnesota students to join national gun violence walkout
But some vowed to walk out anyway, understanding that accepting punishments is part of what can make civil disobedience powerful. He argues that they're oversimplifying the problem of school violence by advocating more gun control as the solution.

Cheltenham Festival: Serious challenge awaits Altior in Queen Mother Champion Chase
G1 Weatherbys Champion Bumper and will be partnered by Patrick Mullins, who already has a victor on the board this Festival. Even if they thought it was a penalty kick and he got a battle, he did what he had to do and did it well.

Sega Genesis Classics trailer leaks online, coming to Xbox One in May
The collection is scheduled to be released on the 29 May; perhaps there will be word on a Switch version soon after. Those games were Sonic the Hedgehog , Streets of Rage , ToeJam & Earl, The Revenge of Shinobi and more.

Netflix pays its queen less than her consort on 'The Crown'
Her male counterpart Mark Wahlberg received a negotiated fee of $1.5 (€1.2) million. Foy's agent did not immediately respond to a request for comment on Wednesday.

Alexis Sanchez sends cryptic message to Man United fans
Mourinho made a decision to leave Mata on the bench against Sevilla and only send him on when they were desperate for a goal. Club captain Michael Carrick has first-hand seen what Sanchez can do in Premier League clashes with Arsenal.

YouTube will add information from Wikipedia to videos about conspiracies
YouTube removed the clip within a few hours, citing violation of its policy on harassment and bullying. How well YouTube's "information cues" work in practice remains to be seen.

Mkhitaryan could make his mark in Arsenal's Europa League title hunt
The 2-0 lead means Arsenal don't necessarily have to win this match but it would still be nice to do just that. We've seen in the first game how good they are.

Ukraine gained fifth gold medal at 2018 Winter Paralympics
Arthur Bauchet of France finished in silver medal position after being fastest in the first run of the Super-G, earlier today. Hall said: "It has been 8 years since Vancouver and I'm still in shock, pretty emotional".

Court Says Texas Ban On So-Called Sanctuary Cities Can Stand For Now
Critics also fear it will lead to the racial profiling of Hispanics and put officers in untenable positions. Trump's presidency, the Justice Department threatened to cut funding to such cities.

Case Keenum reportedly plans to sign with the Broncos
John Elway, the Broncos' front office football czar, has settled on Keenum as his latest attempt to fix the quarterback situation. That included choosing among the draft prospects that include Josh Allen, Josh Rosen, Sam Darnold, Baker Mayfield and others.

Met Eireann issue ANOTHER status yellow warning
Marchers and onlookers will face potentially bracing conditions - and have been warned to dress accordingly. The forecaster says rain will lead to accumulations of 30 to 50mm with a risk of localized flooding.