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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Wm Morrison Supermarkets    MRW   GB0006043169

WM MORRISON SUPERMARKETS

(MRW)
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Wm Morrison Supermarkets : . Morrison 1st Half Pretax Profit Rose 49%; Extends Amazon Partnership

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09/12/2019 | 02:41am EDT

By Adriano Marchese

Wm. Morrison Supermarkets PLC (MRW.LN) said Thursday that pretax profit rose 49% in the first half of fiscal 2020 and announced an extension of its relationship with Amazon.

For the 26 weeks ended Aug. 4, the British grocer made a pretax profit of 202 million pounds ($249.3 million) compared with GBP136 million during the same period in fiscal 2019.

Revenue for the period rose 0.4% to GBP8.83 billion. On a like-for-like basis, group sales, excluding fuel and VAT, rose 0.2% in the period.

The board has declared an interim dividend of 1.93 pence a share, which compares with last year's 1.85 pence. Additionally, the company said it would issue a special dividend of 2.0 pence a share, taking the total half-year payout to 3.93 pence.

Wm. Morrison, the fourth largest grocer by market share, said it has extended the agreement to expand its Amazon Prime Now to more cities across the U.K.

The grocer said that in the second half, it is planning for retail like-for-like sales to improve, and for various cost savings opportunities.

The company said it remains on track for its medium-term target of GBP75 million to GBP125 million incremental profit from wholesale, services, interest and its online segment.

Write to Adriano Marchese at adriano.marchese@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM 0.81% 1822.55 Delayed Quote.20.36%
WM MORRISON SUPERMARKETS -2.74% 202.7 Delayed Quote.-2.27%
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Financials (GBP)
Sales 2020 18 072 M
EBIT 2020 505 M
Net income 2020 323 M
Debt 2020 1 504 M
Yield 2020 4,66%
P/E ratio 2020 15,4x
P/E ratio 2021 14,5x
EV / Sales2020 0,35x
EV / Sales2021 0,34x
Capitalization 4 843 M
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Technical analysis trends WM MORRISON SUPERMARKETS
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 223,22  GBp
Last Close Price 202,70  GBp
Spread / Highest target 25,8%
Spread / Average Target 10,1%
Spread / Lowest Target -11,2%
EPS Revisions
Managers
NameTitle
David T. Potts Chief Executive Officer
Andrew Thomas Higginson Non-Executive Chairman
Trevor John Strain Director, Chief Financial & Commercial Officer
Belinda Jane Carew-Jones Independent Non-Executive Director
Richard Colin Neil Davidson Independent Non-Executive Director
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