Australian grocer Woolworths Ltd has revised its earnings forecast for the full-year.
In a trading update today (18 July), the grocer said it has revised its previous guidance and now expects net profit after tax from continuing operations, excluding non-recurring items, to grow in the range of 5% to 6%. Previous guidance was 4% to 6%.
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Australia’s biggest retailer by sales, said its home-improvement business had recorded a steeper-than-expected annual loss. It did not comment on figures for its food and liquor division.
In April, the retailer recorded an increase in third-quarter sales, boosted by targeted offers and a “sharpened focus” on its core business.
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