UK: Morrisons says profits up, sales remain strong
Family-run Morrisons Supermarkets, Britain's fifth largest food retailer, has reported a pre-tax profit of £114.5m (US$177.9m) for the 27 weeks ending 11 August, a 16% increase from last year. The company, whose stores are located mostly in the north of the country, has increased its market share to around 5.9% through a combination of low prices, tight cost control and steady expansion.
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