Insight Report 4 minutes PremiumMorrisons (LSE: MRW) 1H17 RESULTS: BETTER COMPS, IMPROVED OPERATING MARGINS Coresight Research September 16, 2016 Executive Summary The UK’s fourth-largest grocery retailer, Morrisons, reported 1H17 revenues down 0.4% but comps up 1.4%. Comps saw a sequential improvement and rose 2% in 2Q. This was the third consecutive quarter of positive underlying growth. Operating profit climbed 30%, helped by the progress of its plan to save £1 billion in costs over three years. This led to operating margins of 2.8%, up from 2.1% in the year-ago period. Profit before tax (PBT) rose 13.5%, and these gains trickled down to create a 2.4% increase in diluted earnings per share (EPS), taking it to 4.68 pence. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: US Social Commerce Survey 2023—Infographic: Video-Centric Platforms and Influencers Offer Opportunities for BrandsUS CPG Sales Tracker: Health & Beauty Category Helps Sustain Mid-Teens Online CPG GrowthAnalyst Corner: Retail Innovation in China, with Anand Kumar—Three Opportunities for Brands and RetailersUS Online Grocery Survey 2024 Amazon and Walmart Showdown in Grocery E-Commerce