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Q3 Interim Management Statement

4th Nov 2010 07:00

RNS Number : 5760V
Morrison(Wm.)Supermarkets PLC
04 November 2010
 



News Release

 

Continuing progress

 

Release date: 4 November 2010

 

Wm Morrison Supermarkets PLC

Q3 Interim Management Statement - 13 weeks to 31 October 2010

 

As anticipated at our interim results announcement in September, a continuing upturn in commodity prices has resulted in a slight increase in retail price inflation in the third quarter. During this period Morrisons has delivered another solid performance. Total sales* excluding fuel were up by 2.8% (4.7% including fuel). Like for like sales* grew by 1.3% (3.9% including fuel).

 

Following the annualisation of the opening of the stores we acquired from the Co-Operative Group last year, our total sales performance in the quarter was in line with market growth. In this period we opened seven new stores, including one replacement, and are on track to meet our target of adding 400,000 sq.ft. of new space during the year.

 

We are focussed on the operating and strategic initiatives that we outlined in September and will update the market on developments at our Preliminary Announcement in March.

 

The Group's net debt position remains in line with expectations.

 

Outlook

 

In a continuing difficult environment for the consumer, performance in the third quarter has been in line with our expectations. Accordingly our financial outlook for the year remains unchanged.

 

 

*exc. VAT and reported in accordance with IFRIC 13

 

 

 

 

 

 

 

Enquiries:

 

Wm Morrison Supermarkets plc

Richard Pennycook - Finance Director 0845 611 5000

Niall Addison - Investor Relations Director 07764 624701

 

Media Relations

 

Wm Morrison Supermarkets plc Richard Taylor 0845 611 6912

Citigate Dewe Rogerson Simon Rigby 020 7638 9571

 Kevin Smith

 Sarah Gestetner

 

 

There will be an analyst conference call at 9 a.m. today, details as follows:

 

Dial in number: 0845 634 0041

Password: 3723578

 

Replay facility available for 7 days

Replay access number: 00442077696425

Replay access code: 3723578#

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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