Morrisons sees profits soar by 21% in 2009

Morrisons has reported a 21% increase in annual profit, which it says has been driven by its focus on low prices and fresh foods and hiked its dividend despite an uncertain consumer outlook.

The supermarket, which is Britain’s fourth-biggest grocer, and whose new chief executive Dalton Philips starts on March 29, says it made profit before tax and one-off items of £767m in the year ended January 31.

This was boosted by a 7% increase in customers choosing the supermarket chain to do their weekly grocery shopping, increasing turnover by 6% to £15.4bn, compared to £14.5bn a year ago, and like-for-like sales rising by 6%.

Profit before tax reached £858m, signifiantly higher than the previous year’s £655m.

Sir Ian Gibson, non-executive chairman, says: “Morrisons had another good year. Once again our focus on fresh food and great value appealed to shoppers everywhere, and we have successfully grown sales and profits to record levels. We completed delivery of the Optimisation Plan first launched four years ago, and we are well on the way to cementing our position as the Food Specialist for Everyone. The opening of 43 new stores in the year accelerated our journey from National to Nationwide.”

“We expect the economic environment to remain challenging, disposable incomes to be under pressure and value to remain a high priority for consumers. The Board believes that Morrisons unique offer of high quality, fresh food at great value prices will continue to attract customers from our competitors and drive market share growth in the year ahead. For the longer term, we will continue to utilise our balance sheet strength to invest for growth, with new space, new manufacturing capability and new systems priorities in the year ahead.”

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here