Morrisons profits down first half 2012

Morrisons have reported lower profit figures of £440 million to the end of July, £9 million lower than the equivalent period last year, with sales also down nearly 1%.

They are expanding online and are planning to open 100 smaller convenience stores in London and are halfway through this project.

Challenging economic conditions and weak consumer confidence have been given as the main causes for the lower sales figures and they remain the fourth largest supermarket chain in the UK.