UK: Morrison posts strong H1, outlook good for H2
UK supermarket chain Wm Morrison has unveiled another strong set of financial results ahead of expectations, as it consistently betters rivals in terms of business growth. The family-owned, no-frills, northern chain, the fifth largest supermarket retailer in the UK, posted a 15.3% increase in turnover to £1.97bn (US$2.87bn) for the first six months of 2001. Profits were up 14.1%, to £98.6m and growth in like-for-like takings was also promising at 7.7%.
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