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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.

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