Supermarket chain William Morrison today as announced full year profits that showed it is weathering the food price wars better than some of its bigger competitors.
Last year, which marked its centenary, the group continued its expansion opening six new stores to add to the 95 it already operated. This programme will be extended this year with a further 11 supermarkets opening.
The only cloud on the horizon for the group was the poor performance of its petrol station business, which is currently not making a profit and could suffer from the recent jump in oil prices.
Final pretax profits for the year ending January 30 2000 were £189.2m compared with £170.3m a year earlier. Turnover increased to £2.98bn this year up from £2.53bn in 1998.
The total dividend payment to shareholders will be 1.5p for 1999 against 1.23p.
PA News 16/03/2000
