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Britain's Morrisons' halving of profits is "badge of honour", CEO says

LONDON, March 11 (Reuters) - The boss of Morrisons, Britain’s fourth largest supermarket group, said on Thursday the group’s halving of annual profit was a “badge of honour” as the priority in 2020-21 was feeding the nation during the COVID-19 crisis.

“I personally wear a halving of profits as a badge of honour,” chief executive David Potts told reporters after Morrisons reported 2020-21 profit of 201 million pounds ($280 million), down from 408 million pounds in 2019-20.

“The British people have had access to food because the supermarket workers, not just Morrisons, were asked by government to be key workers and required to stay open, unlike actually pretty much the rest of society. Frankly we could have made no profit and it would have been a result,” he said. (Reporting by James Davey; editing by William James)

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