Revolting shareholders: Morrisons directors’ not thought to be good value

Supermarket operator Wm Morrison (LON: MRW) has upset shareholders with selective decisions on executive pay. There were 70.1% of the votes at the AGM cast against the directors’ remuneration report.

Last year, like-for-like sales, excluding fuel, increased by 8.6% and total revenues were 0.4% ahead at £17.6bn. Underlying pre-tax profit was 6% higher at £431m, before returning government assistance, although earnings per share before exceptionals halved to 5.95p. That pre-tax profit should improve this year.  

There were adjustments for direct Covid-19 costs included in the calcula...

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