UK's Morrisons Blames Higher Costs for Flat Annual Earnings
British supermarket group Morrisons on Wednesday reported flat core earnings for its 2024/25 year, blaming higher costs, but said trading improved over the key Christmas period.
The UK's fifth largest grocer, owned by U.S. private equity firm Clayton, Dubilier & Rice, said underlying earnings before interest, tax, depreciation and amortisation (EBITDA) were static at 835 million pounds ($1.1 billion) in its year to October 26 despite revenue rising 3.2% to 15.8 billion pounds...
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