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Morrisons this morning reported end of year sales up 8.6% on a year ago, as CEO David Pott’s hailed the retailers “strong momentum” as it approaches the easing of lockdown.
The results, compared to 0.8% sales fall a year ago, included total revenues up 0.4% to £17.6bn, despite profits being down by more than 60%, in part because of £290m of Covid related costs.
Total revenue excluding fuel was up 8.9% as fuel sales slumped 32.1% to £2.49bn during the pandemic.
Morrisons said online sales had tripled during the year, with capacity now up fivefold whilst both its online and wholesale operation were already profitable and expected to become more so.