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Morrison Shares Plunge As Company Forecasts Annual Profit Drop
date:Mar 14, 2014
Wm Morrison Supermarkets Plc (MRW), the smallest of the U.K.s four main grocers, said profit will plunge this year and pledged to sell 1 billion ($1.7 billion) of property, sending the shares down the most since 2008.

Underlying pretax profit will be between 325 million and 375 million in the current fiscal year, the Bradford, England based company said in a statement today. Profit in the last fiscal year fell to 785 million, the grocers second straight decline.

With its stock down more than

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