Morrisons, Britain’s fourth largest supermarket group, on Thursday reported a 25.3% fall in first half profit, hurt by costs related to the COVID-19 pandemic.
The firm, which said in May that full year 2020-21 profit would be more weighted to the second half than usual, made underlying pretax profit of 148 million pounds ($193 million) in the six months to Aug. 2. That compared with analysts’ average forecast of 146 million pounds and 198 million pounds made in the same period last year.
Morrisons said second quarter group like-for-like sales, excluding fuel, increased 12.3%, having risen 5.7% in the first quarter.
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Morning Briefing
€2.8bn rail project to reshape Malta’s transport network
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