The fourth largest grocer of UK, Morrisons has planned to step in to the online shopping and convenience stores businesses in the next year.

The Bradford based company has reported a rise of 14% in its profits in the first half of this year taking its profits to 410 million pounds compared to the profits of 359 million pounds in the same time period of last year.

The company has said that it was committed to control the costs of products even in a tight economic environment. The chairmen of the company, Sir Ian Gibson has said that the firm was very satisfied with its performance in the first half of this year.

The firm is expecting the slow market growth to continue in the second half of this year also but it has said that the company is quite confident of meeting its full year profit expectations.

The new chief executive of Morrison Mr. Dalton Philips has said that he was determined to make the company better than ever it was. The supermarket chain operates more than 400 stores in the UK and now planning for online shopping and convenience stores which will generate more revenues for it.