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Company Earning Updates

Morrisons (LSE: MRW) FY19 Results: Solid Profit Growth Prompts Optimistic Outlook

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Coresight Research

Key Points

  • 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.

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