Morrisons (LSE: MRW) 1H18 Results: Strong Comp Growth Feeds into Double-Digit Profit Uplift

Executive Summary

• Morrisons reported continued strong comparable store sales growth in 1H18 and it is outpacing major rivals, as measured by comparable store sales.
• Revenue, underlying EBIT and underlying pretax profit were in line with consensus.
• Management upped its expectations of medium-term incremental profits from wholesale, services, interest and e-commerce.