Not the most exciting share, but with safeway conversion now complete (and how much better the old safeway stores are now) the shares should start to come back. Already started a nice rise from a recent low. Costs for conversions will still hold the price back but when that is out of the way, should be be nice. 190p

StockMarketWire.com
Supermarket operator Wm Morrison reported turnover up 7% to 16.5bn in the year to 30th January (2009/10: 15.4bn). Profit before tax was 874m, up from 858m in the prior year. Total dividend is increased by 17% to 9.6p.

Like-for-like sales (ex fuel, ex VAT) were up 0.9% (2009/10: 6%).

Underlying profits before tax were up 13% to 869m (2009/10: 767m).

Profit before tax was 874m (2009/10: 858m including 91m exceptional credit).

Net debt at period end was 817m (2009/10: 924m) after capital investment of 592m, giving gearing of 15% (2009/10: 19%).

Basic earnings per share were 23.9p (2009/10: 22.8p) and underlying earnings per share were up 12% to 23p (2009/10: 20.5p).

Total dividend for the year rises 17% to 9.6p (2009/10: 8.2p) - dividend cover of 2.4 times,

Morrisons said it has seen record customer numbers in store and 15 new stores were opened during the year.

A 1bn equity return is to take place over two years and the group has made a commitment to double-digit dividend growth over the next three years.

harry . yes under valued by at least 100p

MORRISONS EFFICIENCIES QUANTIFIED
The sales desk meeting yesterday was pretty upbeat in terms of the self-help opportunities that should enhance and enable profitable growth with substantial efficiencies quantified. While the consumer environment is likely to remain subdued in 2011, double-digit EPS growth, adjusted for the equity return is attractive, in our view. BUY, TP3.89

Wm Morrison Supermarkets Plc ("the Company") announces that on 10 March 2011 it purchased through RBS Hoare Govett 875,000 ordinary shares at an average price of 284.497 pence per share.

is it correct that take away pension fund holders there is only 300000 in free market

the mores shares they buy back before exdiv will make them alittle extra
a buy back of 10m will save them 837000

still buying what a gift .400p by year end just watch . div to go up over 10 % for the next 3 years very nice and growth

the MMS are doing a good job . mrw buying back cheap .

nothing to do with MMs ..... 12m traded and it's a "proper" SETS stock ..... for all that, it's a damn good stock to be holding

cynic .these are being held back .so far they have bought back 6m .but why is the question

in about 2 weeks time it willbe hard to get these shares so the sp will be over 300p

i sold 20.000 barc at 329p and bought mrw at 2.78p not bad hey

Morrisons raised to buy from hold at Liberum, target 335p up from 265p
StockMarketWire.com

mrw will save over 300m in divs over the next 3 years by buy back

that is why they are going to lift divs over the next 3 years by over 10% for the next 3 years

the rise to over 300p is about to begin be there in 4 weeks

When is exdiv day??

11th of May '11

thanks harry.

Sainsbury's results were well below expectations. The worry is that Tesco & Morrisons will suffer the same fate as the recession bites. Everyone still wants food, but looks like the discounts brands (smaller profit margin) are in demand and the total amount spent on each shopping trip is dropping dramatically.
From Evo Securities:
Consumers under pressure, rising inflation and excess capacity are resulting in poor like for like sales. many have been in denial about new capacity but JS has added 8.5% more space, Tesco will have added c6.5% and Morrisons has just substantially increased its opening plans. In fact, Tesco and Sainsbury between themselves are opening more space than there is growth across the entire industry. But with the consumer facing falling disposable income, sales are being spread more thinly hence the underlying negative LFL sales. The UK has never seen sustained negative LFL sales across the industry before, but economics and mathematics suggest that this will be the new norm for the foreseeable future. There is not enough soft market share left with weaker players to feed the ambitions of the Big 4. remember that outside the Big 4 we also have aggressive expansion by others like Waitrose, Aldi, Lidl etc.
The read through from these numbers is bad news for the industry. We have not seen market share data yet which covers March this is due next week and it could be a shocker. It seems that the market research agencies have been reporting sales data that is proving optimistic compared to the reality.