Morrisons sales and profits RISING despite growth hit by increased competition

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A consensus of Urban district analysts forecast that like-for-like sales at the supermarket will knoll 2.6 per cent in the first six months of 2017, with HSBC incline half-year pre-tax profits to increase 30 per cent to £186million. 

Even so, second-quarter sales are set to show a slowdown, with broker Jefferies detailing a encourage of 1.7 per cent in second-quarter comparable sales, compared to growth of 3.4 per cent in the sooner three months of the year.

Morrisons chief executive David Potts has led a pick-up of the grocery chain by investing in price cuts and calling time on under-performing values. 

His next move sees Morrisons relaunch the Safeway brand after approving with McColl’s to supply the convenience store chain with groceries. 

Graham Spooner, investment enquire analyst at The Share Centre, said: “The deal to supply McColl’s was visioned as a positive and the market will be keen to see if the overall grou

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