Company Data
| Last traded |
R41.75 |
| Change |
R0.05 |
| % Change |
0.12% |
| Cumulative volume |
600,247 |
| Market cap |
R34.88bn |
| Last traded |
R130.94 |
| Change |
R0.69 |
| % Change |
0.53% |
| Cumulative volume |
308,922 |
| Market cap |
R71.16bn |
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Johannesburg - Retailer Woolworths Holdings [JSE:WHL] posted a 25% rise in full-year profit, helped by a recovering demand in Africa's biggest economy and said it expects a slow recovery ahead.
Woolworths, which sells upscale food and clothing, said on Thursday headline earnings per share rose to 157.2 cents in the year to end-June from 126 cents a year last year.
Headline EPS is the main profit gauge in South Africa and strips out certain one-off items.
Woolworths, which also operates in Australia, said it expects a slow improvement in both South Africa and Australia.
The Cape Town-based company said revenue for the year rose BY 8.2% to R23.7bn.
Shares in Woolworths have gained more than 30% so far this year, outpacing a more than 2% decline in the JSE all-share index.
Investors have been snapping up Woolworths and other South African retailers on hopes that decades-low interest rates, soccer World Cup and a tentative economic growth would ease strain on consumers.
But these benefits are tempered by high household debt levels and job losses.
South Africa's retail sales rose for a sixth consecutive month in June, helped by World Cup spending, but the increase was weaker than expected.
Woolworths' larger rival Shoprite Holdings [JSE:SHP], which this week posted a 16 percent rise in full-year profit, gave a cautious 2011 outlook, citing job losses and debt levels.