Australian food retailer Woolworths is set to report a strong first-half profit result on Monday.

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Analysts expect Woolworths to report double-digit earnings growth for the first half and have also speculated that the retailer may lift its annual earnings forecast, reported Asia Pulse.

Woolworths reported last month a 10.9% increase in first-half sales to A$14.14bn (US$8.5bn), whereas rival Coles Myer reported a sales increase of 5.5% to $13.8bn.

Coles Myer has been losing out to Woolworths’ market-winning fuel discount programme.

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