Executive Summary

• Morrisons reported FY19 revenues of £7 billion, up 2.7% year over year, and slightly missing the consensus estimate of €17.8 billion recorded by StreetAccount.
• The company reported adjusted diluted EPS of 12.88 pence, up 7.9% year over year, but missed the consensus of 13.1 pence.
• Morrisons expects £12 million incremental profit from wholesale, services, interest and online, taking the cumulative total to £54 million. The company believes it is on track for its £75-125 million target.