Johannesburg - Shares in Woolworths Holdings [JSE:WHL] rose nearly 4%, after the retailer that targets higher-end shoppers of food and some of its clothing posted a 30% rise in full-year earnings.
In morning trade Woolworths stock gained 3.9% to R33.34.
The company posted a 30.6% rise in full-year profit as consumer sending slowly recovers.
A final dividend of 93 cents per share was declared and a total distribution of 143.5 cents per ordinary share was made for the period, an increase of 36.7%.
Revenue rose 9.2% to R25.841bn, and operating profit increased 28.3% to R2.122bn.
During the course of the year sales grew by 10.0% (comparable 7.9%), and clothing and general merchandise sales grew by 8.6% (comparable 7.3%). Clothing and footwear sales in South Africa performed particularly well, increasing by 11.5% (comparable 9.4%).
Food also experienced strong growth for the year with sales up 10.7% (8.4% comparable).
The group said on average for the 12-month period it outperformed the market by 4.1%.
Sales in Country Road Australia were 2% down (comparable down 10.9%) reflecting the challenging trading conditions in that country, offset by an increase of 24% in South Africa (comparable 7.9%) where the Country Road and Trenery brands continue to perform well.
In morning trade Woolworths stock gained 3.9% to R33.34.
The company posted a 30.6% rise in full-year profit as consumer sending slowly recovers.
A final dividend of 93 cents per share was declared and a total distribution of 143.5 cents per ordinary share was made for the period, an increase of 36.7%.
Revenue rose 9.2% to R25.841bn, and operating profit increased 28.3% to R2.122bn.
During the course of the year sales grew by 10.0% (comparable 7.9%), and clothing and general merchandise sales grew by 8.6% (comparable 7.3%). Clothing and footwear sales in South Africa performed particularly well, increasing by 11.5% (comparable 9.4%).
Food also experienced strong growth for the year with sales up 10.7% (8.4% comparable).
The group said on average for the 12-month period it outperformed the market by 4.1%.
Sales in Country Road Australia were 2% down (comparable down 10.9%) reflecting the challenging trading conditions in that country, offset by an increase of 24% in South Africa (comparable 7.9%) where the Country Road and Trenery brands continue to perform well.