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"Marc Bolland, chief executive of Morrisons supermarkets, has pulled out of the running for the same job at Marks & Spencer as the grocer posted a 45 per cent jump in pre-tax profits and raised its interim dividend.

Asked yesterday if he was ruling himself out, Mr Bolland eventually said he was, although he had earlier been noncommittal and stuck to the mantra "I love Morrisons, I am happy here".
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