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Morrison profits rise 57%

Published:  23 July, 2008

Supermarket chain Morrison's has seen sales top the 6 billion mark, with profits also up by half.

Customer numbers, and also the amount being spent per visit both increased in the first half of the year, leading to the 2.8% rise in turnover.

The figures suggest that the retailer is recovering after a difficult period in the wake of the Safeway takeover, and following the E coli outbreak in some of its stores.

However the retailer suggested that future income would be hit by the rising cost of basic foodstuffs.

"Commodity prices are rising, but the shopping basket will continue to be competitive into Christmas," said chief executive Marc Bolland.