Woolworths Holdings booked a rise in first-half profits today (18 February) but sounded a cautious note on the South African and Australian markets.
Profits grew by 4.9% to ZAR11.69bn (US$1.53bn) for the 26 weeks to 27 December.
Go deeper with GlobalData
Adjusted headline earnings per share, which excludes the post-tax foreign exchange impact of ZAR41.6m, increased by 13.8% to 80.1 cents per share.
Net sales increased 9.3% to reach ZAR11.55bn, while food sales increased by 8.9%, with a gain in market share in the last two months of trade.
Comparable store sales for the food division increased by 4.7%, while operating profit margin increased to 3.8% from 3.4% in the previous year, driven by repositioned prices and value offering.
CEO SN Susman said: “Conditions in South Africa and Australia will remain challenging. In South Africa, the upper income consumer is more confident. As we move out of recession, the group is better positioned to take advantage of any upliftment in consumer spending.”
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
