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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.

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Morrisons profit drops 7% to £879 million

Morrisons has admitted that its performance fell short of expectations after reporting a 7% drop in full-year profits to £879 million.

The supermarket, which generated sales of £18.1 billion in the year, said it had not done enough to communicate its promotions and suffered because it still lacked a meaningful presence in the two fastest growing sectors of the market.

The UK's fourth-biggest grocer, which employs 129,000 staff at 498 stores, said like-for-like sales dropped 2.1% in the year, while the average of 11.4 million customers in its stores each week was down on the prior year.

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