BGN Entrepreneur

The supermarket chain–Morrisons, which reported like-for-like sales growth of 7.8%, is the first of the big supermarkets to deliver half-year results. The Group just reported an increase of 45% to £449m in six month pre-tax profits.
It is said that over the past two years Morrisons had added 1.1m customers from major competitors and food inflation helped pull consumers towards the perceived value. However, the group also warned that there would be slower market sales growth as food price inflation eased.
The shares of the group dipped 2%, down 5.1p to 278.7p, by 10.30am.

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