Supermarket Giant Sees 16.9% Profit Increase and Rising Sales
- Morrisons reports a 16.9% profit growth of £380m
- Like-for-like sales increased to 2.8% in 2018
- Revenue grew by 5.8% to £17.3bn
- Third consecutive year of positive financial growth
- CEO David Potts: ‘We are pleased to be paying shareholders a special dividend’
- Special dividend of 4p per share
Supermarket giant Morrisons has reported a third consecutive year of profit growth, with profits rising by 16.9% to £380m. Like-for-like sales also increased to 2.8%, up from 1.9% the previous year, and revenue grew by 5.8% to reach £17.3bn. The company expressed confidence in its ability to continue growing, attributing this success to improved competitiveness and differentiation. CEO David Potts stated that they are pleased to pay shareholders a special dividend of 4p per share, reflecting their strong performance and optimism for the future. This growth can be traced back to better customer service and improved shopping experiences, which have been priorities since the start of the turnaround three years ago.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Morrisons’ financial growth, like-for-like sales increase, and CEO’s statements without any irrelevant or misleading details, sensationalism, redundancy, or personal opinions. It presents facts and figures without any logical errors or inconsistencies.
Noise Level: 2
Noise Justification: The article provides relevant information about Morrisons’ financial growth and performance, with quotes from key executives. It is concise and stays on topic without diving into unrelated territories. However, it lacks analysis of long-term trends or possibilities, exploration of consequences for stakeholders, scientific rigor, intellectual honesty, actionable insights, or new knowledge.
Financial Relevance: Yes
Financial Markets Impacted: Morrisons (MRW.L) stock
Financial Rating Justification: The article discusses the financial performance of a major supermarket chain, Morrisons, and its impact on their stock market value.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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