Wm Morrison Full-Year Report 202.3

Total Group revenue for the period at £18,358m was £121m down compared to the comparative period as a result of several factors. Fuel was down £517m to £3,473m primarily driven by lower prices. Other sales were down £213m to £524m reflecting the full period impact of the acquisition of McColl’s, as previously wholesale sales to McColl’s were classified as other sales prior to the Group’s acquisition of the business. This was offset by store and online sales which were up £609m to £14,361m primarily due to the impact of the acquisition of McColl’s.

For the period Group like-for-like (‘LFL’) sales excluding fuel was positive 1.8% and Group LFL sales including fuel was negative 1.4%.

Highlights

  • The reported profit before tax was £51m for the period (2021/22: loss of £38m). Profit before exceptionals and tax was £236m for the period (2021/22: £181m).
  • Underlying EBITDA was £970m for the period (2021/22: £911m). There have been no supply chain disruption and direct COVID costs in the period (2021/22: £44m and £20m respectively).
  • Cash FlowCash generated from operations was an inflow of £966m for the period (2021/22: inflow of £735m)  

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