H1 sales came in at £8,032m, a slight decrease compared to 2015/16. The operating profit improved by 30.2% yoy, following a more rigorous cost savings plan (administrative expenses were halved). Net profit stood at £110m, i.e. a net margin of 1.37%, almost stable compared to H1 15/16. Morrisons succeeded in improving its FCF (£556m vs. £468m in H1 15) and reduced its net debt (by £477m) following the enhancement in margin, an improvement in working capital contro
15 Sep 2016
Reassuring H1 figures
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Reassuring H1 figures
- Published:
15 Sep 2016 -
Author:
Ranya GNABA -
Pages:
2
H1 sales came in at £8,032m, a slight decrease compared to 2015/16. The operating profit improved by 30.2% yoy, following a more rigorous cost savings plan (administrative expenses were halved). Net profit stood at £110m, i.e. a net margin of 1.37%, almost stable compared to H1 15/16. Morrisons succeeded in improving its FCF (£556m vs. £468m in H1 15) and reduced its net debt (by £477m) following the enhancement in margin, an improvement in working capital contro