Troubled supermarket group Morrison has issued its fifth profit warning since the retailer acquired Safeway last year.

Morrisons issued a clarification statement to the City this morning which said: “While detailed forecast is underway, the board believes the guidance for profit before tax, exceptional and goodwill for the current year will fall within the range £50m-£150m.”

The figure is well below analysts expectations, who had been expecting profits of £225m to £275m.

The retailer had said at its annual general meeting last month that it would be unable to give clear guidance of profits until October.

Morrisons said that it would give further details in its sales update next month.

Morrisons also issued a statement to the City yesterday saying that Mr and Mrs NG Pritchard no longer have a notifiable interest in the company’s ordinary share capital.

Mr and Mrs Pritchard, who are Sir Ken’s niece and her husband, sold 2.1 million shares in the retailer last year and media reports suggest that the pair now hold less than a 3% stake in Morrisons.