Bill Wavish, finance director at Australia’s largest grocer, told US investors that Woolworths still sees considerable growth opportunities in terms of revenue and earnings
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Wavish added that the chain is seeking additions to augment and diversify its current concerns: “Small bolt-on and bigger acquisitions which add to shareholder value [are being] sought both pro-actively and re-actively.”
The 67 ex-Franklins stores bought by Woolworths last year are expected to give a FY sales contribution in 2002-03 and a FY profit contribution by 2003-04.
Looking forward, Wavish told investors that every year, Woolworths will add between 15 and 25 new outlets; five to six new BIG W stores and five to six new Powerhouse stores. From the current number of 220, the chain of Petrol Plus canopies would be increased to 300.
The company expects to post FY earnings of between 47c and 49c a share.
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