More reasons to bet with Morrisons

It’s not all bad news for some companies it seems; supermarket chain Morrisons has reported a 7% increase in profits, adding that their short and long term outlook for the future is a positive one.

"'This was another year of good progress for Morrisons as we continued to grow sales, profits and dividends, whilst also investing to generate future growth," said chairman Sir Ian Gibson.

Christmas sales were unexpectedly good considering the way the economy was heading and their ‘Value’ range was also up 50% over the last 12 months.

In earlier announcements there had been plans to buy back shares, however this has now been abandoned and the money will now be invested back into the business. Having opened nine new stores last year it is thought that more will feature in the upcoming 12-18 months.

So, this is not only encouraging news for the customer of Morrisons, but it could also mean if calculations are correct, and the timing is right, Morrisons are a company to bear in mind when considering entering into spread betting.

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