Australia’s largest supermarket operator Woolworths has announced that full year sales for the year to 25 June increased by 20.4% to AUD37.734bn on the back of acquisitions.
Roger Corbett, group MD and CEO, described these figures as: “Overall a pleasing result with consistent growth against a background of a tightening in discretionary spend… The impact of recent significant bolt-on acquisitions are reflected in these results, all of which are performing strongly.”
Sales at the retailer’s supermarket division jumped 20.7% to AUD32.45bn for the year, while sales for the general merchandise division increased by 9.4% to AUD4.29bn. Sales at the liquor and hotel unit rose 104.3% to AUD850m.
Corbett said the group is on-track to meet full year earnings guidance of 10-15% net profit growth.
Woolworths’ full-year profit result is due to be released on 21 August.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData