Morrison attacks Byers on supermarket inquiry

Ken Morrison, chairman of Bradford-based William Morrison Supermarkets, delivered a blunt message to Stephen Byers yesterday as the Secretary of State for Trade and Industry prepares to deliver his ruling on the Competition Commission inquiry into supermarket profits.

Ken Morrison, chairman of Bradford-based William Morrison Supermarkets, delivered a blunt message to Stephen Byers yesterday as the Secretary of State for Trade and Industry prepares to deliver his ruling on the Competition Commission inquiry into supermarket profits.

Commenting on the potential remedies available, Mr Morrison said some could increase prices rather than reduce them. "For example, we would view the publishing of our full price list on the internet as a costly and largely futile exercise, especially given that many households do not yet have frequent access to this technology."

He added: "Our priority is to deliver outstanding value to our shoppers, not meaningless information at vast expense."

The comments came as Morrison's no-frills approach delivered another good set of results with half-year profits up 9 per cent to £86.4m before exceptional items.

Mr Morrison said his company would be keen to buy more stores. However, he said a deal with Safeway or another rival operator was unlikely.

Mr Morrison, 68, said he had no plans to step down. "I still enjoy it and I'll stay on for the foreseeable future."

Underlying sales in the six months to August, were 6 per cent up on last year, excluding petrol. In current trading like-for-like sales, excluding petrol, are 5.6 per cent ahead of last year. However, gross margins fell from 23.9 per cent to 22.3 per cent. The shares closed yesterday 4p higher at 167p.