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: Earnings Insights 4Q23, Week 4: Gildan Activewear, Sprouts Farmers Market and Walmart See Strong Sales Growth; The Home Depot Sees a DeclineEarnings Insights 4Q23, Week 2: Alibaba, Amazon and CVS See Strong Sales Growth; Under Armour Witnesses Weak DemandGenerative AI Latest: Content Indemnification, Security Concerns and Response from Chinese GiantsWeekly US and UK Store Openings and Closures Tracker 2023, Week 39: UK Closures Up 39%