Morrisons’ reputation rises as profits fall – The Yorkshire Post says

IT is to the credit of Yorkshire supermarket giant Morrisons, and astute management of David Potts, that it can emerge with an enhanced reputation after its profits more than halved and the firm slid out of the FTSE 100 financial index.

Supermarket giant Morrisons has just announced its financial results.
Supermarket giant Morrisons has just announced its financial results.

Yet this is precisely what happened after the Bradford-based retailer, one of the beneficiaries of the Covid pandemic, chose to hand back around £230m of business rates relief to the Treasury rather than use it to boost profits or shareholder dividends.

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Hopefully this responsible approach will be recognised – and followed by others. Equally the decision to extend its 10 per cent discount scheme for NHS workers is a welcome gesture when most of the country is outraged by the sector’s proposed one per cent salary increase. An approach that would have been approved by the firm’s founding father Sir Ken Morrison, Mr Potts appears cut from the same cloth – and this can only help Morrisons and its quest to return to the FTSE top table.

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Morrisons chief executive David Potts.