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Morrisons reports profits fall

However, he went on to say: “...the turnaround will take time and will continue to require sustained investment in the proposition

Morrisons has reported a decline in profits in its preliminary results for the year ending 31 January 2016.

Underlying pre-tax profits were down at £242m compared with £345m a year earlier.

Total turnover fell by 4.1% to £16.1bn against £16.8bn the previous year. Meanwhile, like-for-like sales (excluding fuel and vat) tumbled by 2.0%.

Chief executive David Potts said: “By improving the shopping trip for customers, we have started the journey to turnaround the business and make our supermarkets strong.”

However, he went on to say: “...the turnaround will take time and will continue to require sustained investment in the proposition

The IOR Annual Conference – a conference on-demand

Delegates to the IOR Annual Conference taking place from 21 to 22 April will get the chance to access the event live and all sessions and recordings for up six months afterwards providing fantastic value and allowing anyone registering for the event ...

  01-Apr-2021

Clivet Club opens to merchants and Wwholesalers

Clivet Group UK has extended its Clivet Club loyalty programme to include merchants and wholesalers, offering 1% cashback on all Clivet product sales, thought to be a first-of-its-kind incentive in the HVAC sector....

  16-Oct-2025

Has your Chiller been checked for Refrigerant Leaks?

Has your Chiller been checked for Refrigerant Leaks?
  07-Aug-2025
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