Morrison dips on weak outlook

  UK supermarket William Morrison fell 5.7p to 298.5p after painting an uncertain picture for consumer despite beating estimates with a 30% rise in profits.The UK & rsquo; s fourth largest supermarket said net income jumped from & pound;460m to & pound;598m in 2009. The grocer, which appointed former Loblaw Cos. Executive Dalton Philips to succeed Chief Executive Officer Marc Bolland this month, increased sales by 6% to & pound;15.4bn, as it cut prices on 30,000 items throughout the year.On an underlying basis, stripping out the impact of property disposals and a one-off credit of & pound;91 million to the company pension scheme, pre-tax profits rose by 21 per cent to & pound;767 million.  

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