Shares in focus: Should you back Morrisons?

It’s a supermarket laggard, but Morrisons may reward patient investors, says Phil Oakley.

The Morrisons of today started out as an eggs and butter stall in a Bradford market in 1899. From those humble beginnings it went on to become one of the most effective food retailers in Britain.

Its focus on cutting out the middleman and making a lot of its own food to sell meant that it could offer good-quality food at very good prices. It became a big hit with customers in the north of England, while delivering spectacular returns for its shareholders.

By the early [...]

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