Morrisons posts record profits and sales, raises dividend

824AM GMT eleven Mar 2010

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Morrison (Wm) Supermarkets

Pre-tax increase increasing 34pc to �858m on sales up 6pc to �15.4bn in the year to Jan 31, 2010, the association pronounced in a statement.

Sir Ian Gibson, the chairman, pronounced "Morrisons had an additional good year. Once again the concentration on uninformed food and good worth appealed to shoppers everywhere."

Morrisons raises increase forecasts as shoppers raise in FTSE 100 dragged down telecoms shares Morrisons sales increased by discount hunters Wm Morrison plots desirous expansion Morrisons is retrogression leader as increase burst

Weekly normal business rose 7pc.

A last division of 7.1p takes the full-year payout to 8.2p, a 41pc climb on last year.

However, like-for-like sales expansion slowed opposite the duration to 6pc, compared with 8.2pc the year before, and Mr Gibson pronounced the sequence approaching the mercantile sourroundings to sojourn challenging.

Morrisons pronounced Dalton Philips would take up his purpose as new arch senior manager on Mar 29. He replaces Marc Bolland who is fasten Marks & Spencer.