Morrisons plc The 2020/21 interim ordinary dividend is 2.04p per share, up 5.7% (2019/20: 1.93p), reflecting the strong first-half trading performance and a confident outlook.
Other financial highlights include:
•Group like-for-like (LFL) sales ex-fuel/ex-VAT up 8.7% (2019/20: up 0.2%)
•Q2 Group LFL ex-fuel/ex-VAT up 12.3% (Q2 2019/20: down 1.9%), including a very strong retail contribution to LFL of 11.1% (Q2 2019/20: down 2.4%)
•Total revenue down 1.1% to £8.73bn (2019/20: £8.83bn), significantly impacted by very low demand for fuel during and after lockdown, which is now rebuilding
•Total revenue ex-fuel up 8.8% to £7.55bn (2019/20: £6.93bn)
•PBT and exceptionals down 25.3% to £148m (2019/20: £198m), after COVID-19 direct net costs of £62m (£155m costs, partly offset by £93m lower business rates)
•Basic EPS before exceptionals down 26.2% to 4.71p (2019/20: 6.38p)
•Statutory profit before tax down 28.2% to £145m (2019/20: £202m)
•Free cash outflow £228m (2019/20: inflow £244m), due primarily to the temporary impact on working capital of the lower demand for fuel
•Net debt £2,802m (2019/20 year end: £2,458m)
