Morrisons supermarkets has said its finance director Martin Ackroyd, has quit, following its announcement of a profits warning last Thursday.

Morrisons today reported its like-for-like sales for the year ended January 30 were up by 7.1% including fuel, up 10.9% at converted Safeway stores and down by 6.8% at unconverted Safeway stores.

The company said it made £321.1m in operating profit before exceptional items, which is below the figure it originally stated earlier this year.

Last Thursday, Morrison said that the profit figure would be between £320m and £330m, below the level it indicated in January, because of a £40m charge resulting from an audit of Safeway's supplier discounts. Morrison issued its first ever profit warning last July.

Sir Ken Morrison said: “The task of converting Safeway has been challenging but I believe we have good progress towards out objective of becoming one of he four major national food retailers and are on track to complete the programme well ahead of the original plan.”

Meanwhile, the company has said Martin Ackroyd has decided to step down as finance director while Bob Stott has been appointed as its chief executive. Marie Melnyk will continue in her role as managing director with responsibility for the company’s trading and marketing.