Morrisons’ profits might have fallen over the past year, but the grocer’s chief executive David Potts painted a picture of a business that has used a period of unparallelled upheaval to readjust its priorities for the future.
The supermarket giant’s profit before tax and exceptional items was sliced in half to £201m during the 52 weeks to January 31, while it also tumbled out of the FTSE 100. But Potts’ response to both setbacks was unexpected.
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