Successful year for Morrisons supermarkets

They heard that the Bradford-based supermarket group had a strong strategy for maintaining its difference from its main rivals by focusing on fresh food further growth.

It was also revealed that the company had made another acquisition hot on the heels of two deals with online operators earlier this year.

Morrisons has acquired Derbyshire firm Flower World. The move is aimed at improving the image and reputation of supermarket-bought flowers and to make Morrisons an accepted source of wedding and funeral bouquets.

Established in 1987, Flower World is one of the UK’s leading independent flower importers and distributors. It provides fresh-cut flowers, plants, bulbs, seeds, wreaths and bouquets to florists and retailers.

Flower World generated sales of £33.7 million. Dalton Philips, Morrisons chief executive, said: “Morrisons wants to be known as the supermarket that excels at retailing flowers.

“We believe that we can do this by owning our own flower business, being closer to growers and therefore better able to control quality and value.”

The Flower World deal follows the £70 million purchase of web-based retailer Kiddicare – which will pave the way for Morrisons online – and a £32 million ten per cent stake in US-based online food business Fresh Direct.

Several hundred shareholders, including company life president Sir Ken Morrison, packed into Morrisons head office on Gain Lane for the annual meeting.

They heard an upbeat summary of the business from chairman Sir Ian Gibson and Mr Philips.

Mr Philips said there was a clear vision and focus for the business.

Last year the firm increased turnover by seven per cent to £16.4 billion in a tough market, raised pre-tax profits by 14 per cent to £874 million and paid shareholders a total dividend of 9.6p a share, 17 per cent up on the previous year – meaning dividends had risen by 100 per cent in three years.

• Read the full story Friday’s T&A