Morrisons profits come in at top end of guidance despite slump
Morrisons has reported a slump in full-year profits and sales but said adjusted EBITDA will come in at the top end of guidance in the third quarter.
For the 52 weeks ending October 30, 2022, Morrisons reported a 15% drop in full-year profits to £828m. Total revenues, including fuel, were up 2.2% to £18.4bn, but like-for-like sales excluding fuel were down 4.2% – although Morrisons reported sequential improvements in like-for-likes over the third and fourth quarters of the period.
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