Woolworths Ltd, Australia’s largest food retailer, has posted an 8.8% rise in half-year revenue, boosted by faster sales growth from its domestic grocery business during the second quarter.
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The company today (28 January) booked first-half sales from continuing operations of A$26.03bn (US$17.37bn), up from A$23.91bn a year earlier.
Revenue from the group’s Australia food and liquor division rose 9% to A$16.9bn during the six months to 4 January. Comparable-store sales from he division climbed 6.6% after growing 7.1% during the second quarter.
CEO and MD Michael Luscombe said the results were “pleasing” in “a more challenging economic environment”.
Luscombe added: “Woolworths has continued to reinvest in all its businesses to improve our stores, create jobs, add services, deliver value, and create an even better shopping experience for our customers.”
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By GlobalDataRevenue from Woolworths’ supermarkets in New Zealand rose 3.5% when measured in New Zealand dollars but were down 1.2% at A$2.13bn in Australian dollars.
Looking ahead, Woolworths said it expects full-year sales from continuing operations, excluding fuel, to grow “in the upper single digits”.
