Woolworths CEO Michael Luscombe praised the company’s “long-term strategy” after Australia’s largest food retailer posted a 28% jump in half-year profits.
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The company booked net profit of A$891.3m (US$827m) for the six months to 30 December. Turnover rose 8.6% to A$24bn.
EBIT climbed 20% to AUS$1.4m (US$1.3m), with sales from Woolworths’ Australian supermarkets rising 18.6%.
“The sustained delivery of successful results across our core business is a testimony to the success of our long term strategy,” said managing director and CEO, Michael Luscombe.
“The key components of this strategy include leveraging our strategic supply chain advantages across the Woolworths business, continued investment in price range, merchandise and quality in all our businesses.”
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