AUSTRALIA: Woolworths forecasts double-digit full-year profit growth
Roger Corbett, CEO of leading Australian grocer Woolworths, said the company remains on track to report double-digit growth in full-year net profits. Annual percentage sales growth is expected to be in high single digits, and shareholder returns are predicted to continue to grow. The 'Project Refresh' cost-efficiency programme has turned its focus to making savings in Woolworth's supply chain and logistics operations, Corbett said.
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