Supermarket flags up rising prices as company prepares auction to choose between rival private equity bidders
Morrisons has reported a drop in profits as it warned of rising costs in its supply chain because of coronavirus pandemic disruption and a shortage of HGV drivers, as the UK chain prepares for an auction to decide between two private equity bidders
The supermarket’s profit before tax and some one-off items fell by more than one-third to £105m in the six months to 1 August compared with the same period in 2020, it said in a statement to the stock market.