Morrisons feels heat from Safeway problems

Supermarket group Morrisons warned of further profits disappointment today after continuing to experience problems integrating its Safeway acquisition.

Morrisons said annual profits before tax and one-off items would now be in the range of £320m (€460.6m) and £330m (€475m) – about £30m (€43.2m) to £40m (€57.6m) lower than analysts had expected after its Christmas trading update.