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.