One of the UK's big four supermarket chains, Morrisons has reported an increase in sales and profits.

Underlying profits before tax for the year ending January 29 were £337million - a rise of 11.6 per cent.

Despite store closures, turnover was up 1.2 per cent to £16.3 billion. Like for like sales increased by 1.7 per cent.

Morrisons chairman Andrew Higginson said: "Food retail is a simple business, but it is not easy. Only consistent and outstanding execution differentiates. I am delighted that the whole Morrisons team are making a real difference.

"I am confident that strong execution will drive sustained dividend growth and improving returns for Morrisons shareholders."

David Potts, Morrisons chief executive, said: "Our full year of like-for-like sales and profit growth was powered by listening to customers, and shows what our hard-working team of food makers and shopkeepers can do.

"But, it's only one year. Our turnaround has just started, and we have more plans and important work ahead. If we keep improving the customer shopping trip, I am confident that Morrisons will continue to grow."