Fidelity Wise Origin Bitcoin Fund amends trust agreement to allow in-kind share transactions
Investing.com - Morrisons, the UK-based supermarket chain, has reported a strong performance for its full year and fourth quarter, ending 27 October 2024.
The company saw its like-for-like (LFL) sales for the year increase by 4.1%, with a notable 4.9% rise in the fourth quarter, marking the most robust quarter since early 2021.
The full year underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed by 11.2%, reaching £835 million. Total (EPA:TTEF) revenue also grew by 3.8% to £15.3 billion over the year, with the fourth quarter revenue up by 4.8% to £3.8 billion.
Morrisons’ financial health was further bolstered by the sale of its petrol forecourts to MFG for £2.5 billion in April 2024, contributing to an operating cash flow of £401 million for the full year. The supermarket has also made significant strides in improving product availability, which increased by 4 percentage points for fresh items.
In a strategic move to enhance its presence, Morrisons acquired 36 convenience stores in the Channel Islands in November 2024. The company has also managed to reduce its debt by 40% from its peak and continued to grow its convenience store estate, now boasting over 1,600 stores.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.