Morrisons underlying profits drop 4%

Morrisons preliminary results show underlying profits before tax down 4% to £901m with like-for-like sales (excluding fuel and VAT) down 2.1%.

It marks the first fall in full-year profits for six years.

Morrisons profit drops 4%
Morrisons profit drops 4% Credit: Sean Dempsey/PA Wire

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Govt urged to cut fuel duty

Morrisons boss Dalton Philips has called on the government to cut fuel duty and says that it is the biggest thing they could do to help customers having difficult times.