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The supermarket chain said the figure climbed 21 per cent to £767 million during the 12 months to January 31st 2010.
According to a poll conducted by Reuters, analysts had expected the amount to be closer to £757 million.
However, shares in the firm were down at the start of stock market trading today (March 11th), dipping 4.3p to 299.9p at 09:30 GMT.
Like-for-like sales were up six per cent - slightly lower than the 8.2 per cent increase seen in 2008/09 - while turnover was also up six per cent, taking it to £15.4 billion.
Sir Ian Gibson, non-executive chairman at Morrisons, said the firm had enjoyed a "good year", adding: "Once again our focus on fresh food and great value appealed to shoppers everywhere and we have successfully grown sales and profits to record levels."
Posted by Greg Secker
