Morrisons has reported a leap in half-year profits to £449 million from £309m as the resurgent supermarket put on further strong sales growth.
The grocer’s 45% increase in pre-tax profits came after same-store sales rose by 7.8%, excluding fuel and VAT, in the six months to August 2. Total sales climbed 5% to £7.5bn.
Morrisons chief executive Marc Bolland said: “This has been an excellent first half performance, continuing our run of market beating sales growth.”
Sales of treats such as cakes rose strongly, according to Bolland, who added that consumers were still keen to find value for money.