Roger Corbett, CEO of Australian supermarket giant Woolworths Australia, admitted last week that on the back of strong profit results, the firm is eyeing sector players in New Zealand in a bid to identify potential takeover targets.
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Corbett is quoted in the National Business Review as saying that Woolworths is definitely “looking for opportunities [which will] add value to the shareholder.”
He added, however: “It has got to be a good deal and I can’t see anything [in New Zealand] in the immediate future.”
Woolworths recently posted reported net profit of A$532m (US$291.7m) after tax, on sales up 17%. Furthermore, the chain is predicting nil debt after 18 months, having already reduced debt to A$237m over the past year.
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