Company news: Wm Morrison net profit rises, Home Retail Group 'slightly ahead' of expectations

The results today could impact on sentiment, with both life-insurers and retailers providing a welcome boost to the market as results from Standard Life and Home Retail Group have proved better than expected.

William Morrison Supermarkets, who have come through a year of change, said that its net profit rose to 598 million pounds, from 460 million pounds a year ago.

Sales also climbed to 15.4 billion pounds, from 14.5 billion pounds, reflecting strong comparable growth and investment in new space.

"We expect the economic environment to remain challenging, disposable incomes to be under pressure and value to be a high priority for consumers," said Morrisons.

However, it believes that its product offer will continue to attract customers from competitors and drive market share growth in the year ahead.

The share price however fell a little after the news, along with the rest of the FTSE 100.

Home Retail Group meanwhile boosted itself with an end of year trading statement 'slightly' ahead of market expectations, based mainly on a held sales value of £205m from its DIY / furniture chain, Homebase.

The result, helped offset losses from its Argos catalogue store, which declined to £857m.

The group will announce its full-year results on Wednesday 28 April 2010, whilst its share price rallied on the figures to climb to 273.50p (+2.13pct).