8th Jun 2005 07:00
Morrison(Wm.)Supermarkets PLC08 June 2005 Clarification statement In the trading statement released in conjunction with the Company's AGM on 26May 2005, the Board stated clearly that it was not currently in a position toprovide reliable guidance on the level of profitability for the year as a whole.Since that time the market has produced a wide range of profit estimates for theyear 2005/6. While detailed forecasting work is underway, the Board believes theguidance for profit before tax, exceptionals and goodwill for the current year,following completion of the review process announced at the AGM, will fallwithin the range £50m-£150m. KPMG is currently working with the Board to provide greater clarity and theCompany will comment further with its sales update at the end of July 2005. The Board reiterates that in 2006/7 there remains every indication thatfinancial performance will improve significantly following completion of theconversion process and as the benefits of the actions taken to normalise thecost structure of the business are reflected in improving margins. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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