The chief executive of Morrisons has waived over a third of his bonus despite the \u2018Big Four\u2019 Grocer reporting its third consecutive year of growth in both sales and profits.\r\n\r\nDavid Potts has given up \u00a3598,000 in bonuses of a potential maximum of \u00a31.7m. The company\u2019s annual report reveals that Potts and financial chief Trevor strain both waived their personal entitlement after "taking into consideration the overall performance, such as the lower increase in incremental profit from wholesale, services, interest and online".\r\n\r\nThe news comes after it was announced in March that the supermarket\u2019s revenues increased to \u00a317.7bn up from \u00a317.3bn and its underlying profits for the year rose 8.6% to \u00a3406m. However lower profits from property sales and other exceptional items totalling \u00a386m meant overall profits were down nearly 16% to \u00a3320m.\r\n\r\nAt the time of the announcement Potts said: \u201cA third consecutive year of strong sales and profit growth, and a total annual dividend up over 150% during those three years, show the Morrisons turnaround is well on track.\r\n\r\n\u201cThis turnaround is based on improving the shopping trip for customers, making Morrisons\r\nmore popular and accessible. And our customers are noticing. Most pleasing of all was another big increase in customer satisfaction, now up a full 20 percentage points in the last four years, which is all down to the friendliness and expertise of our team of unique food makers and shopkeepers.\u201d\r\n\r\nStrain has given up \u00a3437,000 of his \u00a31.3m bonus meaning he received a total pay of \u00a33.2m, while Potts will take home \u00a34.6m down from \u00a35.9m last year.