As per reports, it has been revealed that Wm Morrison Supermarkets, which is considered to be one of leading grocers in Britain, has been moving as per its plans to fulfill profit target.
The company has announced that they have been able to fulfill their set targets for first-half session, and are confident to achieve the rest of the target. While revealing the details in regard to the profit, Morrison said that they have made profit of 445 million pounds and that too in six months which ended on July 29.
As said, the company was expecting the profit to such an extent, but more than that Morrison has registered first half profit up by 1%, as last year profit amounted at 442 million pounds.
In addition, it has been found that Industry leader Tesco is quite in shock to see the decline in its position. They have been thinking to increase promotional activity in regard to their brand and products.
"We expect the challenging economic environment and consumer pressures to continue through the second half of this year and into 2013”, said Morrison. They also assured that they have full proof plans to ensure that they sail through the difficult times.
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