Shares in the UK’s fourth largest supermarket operator have risen in morning trade today (15 September) after analysts predicted good news in Morrisons pending interim report.
The supermarket group had gained 1.77% at time of press, rising to 230.25 pence per share from an open of 226.75 pence.
The share price was boosted by up-beat investor notes issues by SG Securities and UBS.
“Better sales, driven by the World Cup, warm weather and higher prices translate to the recovery in profits,” wrote SG analyst Tom Gadsby. While UBS predicted interim profits of GBP120m (US$152m), up from GBP34m for the comparable period last year.
Morrisons is due to post its interim figures next week, on 21 September.