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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Wm Morrison Supermarkets    MRW   GB0006043169

WM MORRISON SUPERMARKETS (MRW)
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Wm. Morrison Supermarkets plc : Morrison's Profit Pressured by Tough Christmas

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01/09/2014 | 10:06am CEST

LONDON--Morrison Supermarkets PLC (MRW.LN) said Thursday that full-year profit would be at the low end of market expectations as customers cut spending over the Christmas period and it was hit by its continuing absence from the online market.

"In a very tough market our sales performance over Christmas was disappointing. However we are firmly focused on driving our core business and accelerating our penetration of the fast growing channels," Chief Executive Dalton Philips said.

In the six weeks ended Jan. 5, the U.K. supermarket chain's total sales excluding fuel were down by 1.9%. With fuel included, the figure was 3.3%. Like-for-like sales were down 5.6%, excluding fuel and 7.1% including fuel.

Analysts' forecasts put Morrison's full-year underlying profit in the range of 783 million pounds ($1.29 billion) to GBP853 million, giving a consensus figure of GBP812 million, according to data compiled by the company.

In spite of a tough market, Morrison's insisted that its profit outlook was "resilient."

It said difficult conditions were intensified by the growing importance of online and convenience shopping, where Morrison is under-represented, and by targeted couponing, which was particularly prevalent this Christmas.

The company has 85 convenience stores and aims to have 200 by the end of 2014-15, while its online food operation is ready to launch, it said.

Morrison's shares closed Wednesday at 254 pence, giving the company a market value of GBP5.94 billion.

Write to Digby Larner at [email protected]

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Financials ( GBP)
Sales 2019 17 685 M
EBIT 2019 466 M
Net income 2019 315 M
Debt 2019 890 M
Yield 2019 2,88%
P/E ratio 2019 19,13
P/E ratio 2020 17,87
EV / Sales 2019 0,38x
EV / Sales 2020 0,36x
Capitalization 5 800 M
Chart WM MORRISON SUPERMARKETS
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Wm Morrison Supermarkets Technical Analysis Chart | MRW | GB0006043169 | 4-Traders
Technical analysis trends WM MORRISON SUPERMARKETS
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 2,34  GBP
Spread / Average Target -5,0%
EPS Revisions
Managers
NameTitle
David T. Potts Chief Executive Officer
Andrew Thomas Higginson Non-Executive Chairman
Trevor Strain Chief Financial Officer & Executive Director
Belinda J. Richards Independent Non-Executive Director
Richard Colin Neil Davidson Independent Non-Executive Director
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