SAFEWAY STORES LIMITED
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Cash
—
Latest balance sheet
Net assets
£844M
-10.8% vs 2023
Employees
34,681
-3% vs 2023
Profit before tax
£460M
+161.4% vs 2023
Net assets
2-year trend · vs Consumer Discretionary median
SAFEWAY STORES LIMITED·Consumer Discretionary median
SAFEWAY STORES LIMITED·Consumer Discretionary median
SAFEWAY STORES LIMITED·Consumer Discretionary median
SAFEWAY STORES LIMITED·Consumer Discretionary median
SAFEWAY STORES LIMITED·Consumer Discretionary median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-10-27
| Metric | Trend | 2023-10-29 | 2024-10-27 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £7,568,000,000 | £6,754,000,000 | -10.8% | |
| Operating profit | £175,000,000 | £418,000,000 | +138.9% | |
| Profit before tax | £176,000,000 | £460,000,000 | +161.4% | |
| Net profit | £146,000,000 | £452,000,000 | +209.6% | |
| Cash | — | — | — | |
| Total assets less current liabilities | £1,654,000,000 | £1,612,000,000 | -2.5% | |
| Net assets | £946,000,000 | £844,000,000 | -10.8% | |
| Equity | £946,000,000 | £844,000,000 | -10.8% | |
| Average employees | 35,749 | 34,681 | -3% | |
| Wages | £599,000,000 | £620,000,000 | +3.5% | |
| Directors' remuneration | — | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-10-29 | 2024-10-27 |
|---|---|---|---|
| Operating margin | 2.3% | 6.2% | |
| Net margin | 1.9% | 6.7% | |
| Return on capital employed | 10.6% | 25.9% | |
| Gearing (liabilities / total assets) | 81.0% | 81.0% | |
| Current ratio | 0.49x | 0.49x | |
| Interest cover | 7.61x | 8.71x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 5 times since incorporation
- SAFEWAY STORES LIMITED 2004-05-18 → present
- SAFEWAY STORES PLC 1992-06-01 → 2004-05-18
- SAFEWAY PLC 1988-10-21 → 1992-06-01
- SAFEWAY PLC 1988-06-20 → 1988-10-21
- ARGYLL STORES LIMITED 1987-01-04 → 1988-06-20
- WOODS (GROCERS) LIMITED 1963-01-15 → 1987-01-04
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the Directors' assessment, these financial statements have been prepared on a going concern basis.”
Group structure
- SAFEWAY STORES LIMITED · parent
- English Real Estates Limited 100%
- Evermere Limited 100%
- J3 Property Limited 100%
- Oldwest Limited 100%
- Safeway (Overseas) Limited 100%
- Safeway Pension Trustees Limited 100%
- Safeway Properties Limited 100%
- Safeway Stores (Ireland) Limited 100%
- The Medical Hall Limited 100%
- Velligrist Limited 100%
- Safeway Stores (Gibraltar) Pension Trustees Limited 50%
Significant events
- “On 30 April 2024, the Group completed the sale of the petrol forecourt business to MFG. Consideration received was a combination of cash and a c.21% equity share in MFG. The transaction forms a new strategic partnership between MFG and the Group, which will see EV charging infrastructure rolled out across the Morrisons estate.”
- “Subsequently, the Directors authorised and paid a dividend of £537m in the period (2023: £nil). The dividend (distribution in specie) was declared and paid by the Directors to the immediate parent company, Stores Group Limited.”
- “On 29 January 2024, the Group completed the strike off of Maypole Limited, a Guernsey based subsidiary of Safeway (Overseas) Limited.”
- “On 19 August 2024, the Group completed the strike off of Freehold Investments Limited, Lease Securities Limited and Stalwart Investments Limited, Jersey based subsidiaries of the Company.”
- “On 30 September 2024, the assets and liabilities of the TM Group Pension Scheme and TM Pension Plan (the "McColl's Schemes") were transferred to the Company (on an unsegregated basis), with the Company now responsible for all transferred liabilities.”
- “On 18 November 2024, the Group's parent, Market Bidco Limited, concluded on a debt amendment and extension exercise, together with the repayment of a further £200m of debt.”
- “On 4 March 2025, the Morrisons Retirement Saver Plan entered into a buy-in policy, providing insurance for all members' benefits.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 62 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BURKE, Jonathan James | Secretary | 2017-02-22 | — | — |
| BURKE, Jonathan James | Director | 2017-02-22 | Nov 1966 | British |
| CHARNOCK, Alison | Director | 2011-07-15 | Nov 1969 | British |
| GOFF, Joanna Louise | Director | 2022-04-22 | Sep 1978 | British |
Show 62 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| AMSDEN, Mark Rowan | Secretary | 2015-07-09 | 2017-02-22 |
| BURKE, Jonathan James | Secretary | 2004-03-09 | 2009-03-16 |
| JONES, Hazel | Secretary | 2009-11-18 | 2015-06-26 |
| KINCH, John Patrick | Secretary | — | 2001-09-17 |
| MCMAHON, Gregory Joseph | Secretary | 2009-03-16 | 2009-11-18 |
| WILSON, David, Dr | Secretary | 2001-09-18 | 2004-03-09 |
| ACKROYD, Martin | Director | 2004-03-09 | 2005-05-25 |
| ADDISON, Niall | Director | 2009-11-20 | 2015-04-01 |
| AMSDEN, Mark Rowan | Director | 2013-02-07 | 2017-02-22 |
| AYLWIN, Mark Terence | Director | 2002-05-31 | 2005-01-01 |
| BAILEY, Fiona Jane | Director | 2001-06-24 | 2004-01-09 |
| BOOTLE, David Bernard | Director | — | 1994-07-23 |
| BRAY, Karen | Director | 2001-06-24 | 2003-06-04 |
| BROWN, Sydney Herbert Marsden | Director | — | 1993-04-24 |
| CHARTERS, Robert George Beattie | Director | 1996-06-13 | 1998-03-27 |
| CHRISTENSEN, Lawrence | Director | — | 2004-06-18 |
| CRIADO PEREZ TREFAULT, Carlos Maria | Director | 1999-08-16 | 2004-03-08 |
| DAVIES, Jonathan Owen | Director | 2001-06-24 | 2004-06-11 |
| DURKAN, John Patrick | Director | 2002-05-31 | 2004-05-05 |
| FRANCIS, Richard Phillip | Director | 2001-09-03 | 2004-03-19 |
| FRASER, Ian Ellis | Director | 1996-02-29 | 1999-12-10 |
| FRENDO, Paul Anthony | Director | — | 1994-01-31 |
| GARTLAND, Thomas | Director | — | 1993-04-24 |
| GLEESON, Michael | Director | 2019-12-18 | 2022-04-22 |
| GLEN, Frederick Nairn | Director | — | 1994-10-13 |
| GRANT, Matthew Alistair, Sir | Director | — | 1993-12-07 |
| GUNTER, Mark | Director | 2004-03-09 | 2011-07-15 |
| HARRISON, Mark | Director | 2012-04-18 | 2016-02-18 |
| HARTWELL, Terrance | Director | 2009-11-20 | 2014-11-14 |
| HUBER, David John Howard, Dr | Director | — | 1997-03-27 |
| HUTCHINSON, David Robert | Director | 2004-03-09 | 2007-06-29 |
| JONES, Charles Martyn | Director | 2009-11-20 | 2010-09-09 |
| KIERAN, Patrick Oliver | Director | — | 1995-12-31 |
| KINCH, John Patrick | Director | — | 2001-10-13 |
| LAFFIN, Simon Timothy | Director | 1994-10-13 | 2004-03-08 |
| LANCASTER, Richard | Director | 2009-11-20 | 2012-04-13 |
| LAWRIE, Charles Sharpe | Director | — | 1994-03-31 |
| LEPLEY, David John | Director | 2020-01-30 | 2024-04-15 |
| MACLACHLAN, James | Director | 2001-06-24 | 2003-05-14 |
| MCMAHON, Gregory Joseph | Director | 2009-11-20 | 2013-01-11 |
| MELNYK, Marie Margaret | Director | 2004-03-09 | 2006-12-06 |
| MILLS, Gary William | Director | 2016-02-18 | 2020-01-30 |
| MORRIS, Andrew Richard | Director | 1994-03-03 | 1999-02-22 |
| MOWAT, Gordon Peter | Director | 2014-11-14 | 2015-04-01 |
| OWEN, Roger Anthony | Director | 2004-12-02 | 2009-02-01 |
| PARTINGTON, Roger Evans | Director | 1994-01-12 | 1999-07-22 |
| PENNYCOOK, Richard John | Director | 2006-05-01 | 2013-04-10 |
| RAMSDEN, Roger Charles | Director | 1997-10-14 | 2001-05-04 |
| SINCLAIR, Jack Loudon | Director | 2001-06-24 | 2004-03-08 |
| SMITH, Colin Deverell | Director | — | 1999-11-22 |
| STOTT, Robert Winston | Director | 2004-03-08 | 2006-09-29 |
| STRAIN, Trevor John | Director | 2009-12-04 | 2019-12-18 |
| TAYLOR, Matthew Logan | Director | — | 1995-06-14 |
| VALENCIA, Fernando Garcia | Director | 2002-03-11 | 2004-03-19 |
| WEBB, Stephen John | Director | 2001-08-20 | 2004-03-19 |
| WEBSTER, David Gordon Comyn | Director | 2000-01-10 | 2004-03-08 |
| WEBSTER, David Gordon Comyn | Director | — | 1993-12-07 |
| WHITE, James Alfred | Director | 2001-06-24 | 2004-06-25 |
| WILLIAMS, Richard Glynne | Director | 1994-04-28 | 2004-03-08 |
| WILSON, David, Dr | Director | 2001-09-18 | 2004-03-09 |
| WINCH, Michael | Director | — | 2000-02-09 |
| WOTHERSPOON, Gordon | Director | — | 2000-05-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Stores Group Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
| Wm Morrison Supermarkets Limited | Corporate entity | Significant influence | 2016-04-06 | Active |
Filing timeline
Last 20 of 433 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-03-18 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-03-18 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2026-03-18 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.