Loading...
See More

Woolworths posts impressive profit

Feb 14 2013 09:12 Reuters


Company Data

TRUWORTHS INTERNATIONAL LIMITED [JSE:TRU]

Last traded 0
Change 2,87
% Change 0
Cumulative volume 1535261
Market cap 32.12bn

Last Updated: 27-11-2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

WOOLWORTHS HOLDINGS LIMITED [JSE:WHL]

Last traded 0
Change 0,11
% Change 0
Cumulative volume 1247115
Market cap 80.59bn

Last Updated: 27-11-2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

SHOPRITE HOLDINGS LIMITED [JSE:SHP]

Last traded 0
Change 1,73
% Change 0
Cumulative volume 968955
Market cap 97.65bn

Last Updated: 27-11-2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Woolworths profit to soar, shares jump

Woolies sales up 16%

Woolworths gets top accolade

Woolworths joins sustainability index

Retailers hit by valuation concerns

Woolworths H1 profit up 35%

 

Johannesburg - Retailer Woolworths Holdings [JSE:WHL] reported a 21% rise in first-half profit chiefly as a result of contributions from its recent acquisition in Australia.

Woolworths, which sells food and clothes, said headline earnings per share totalled 164.2 cents in the six months to end-December compared with 135.7 a year earlier.

The results were boosted Woolworths' purchase last August of Australian fashion retailer Witchery Group in a $181m deal to expand into the Asia-Pacific region.

Woolworths, similar in style and products to Britain's Marks & Spencer Group said total sales rose 18% to R16.7bn with its Australian business delivering a 55.6% surge in sales. 

South African retailers have been popular among investors for more than a year due to the credit-led shopping spree, but their shares have tumbled in recent weeks on growing worries consumers are too heavily indebted to sustain recent levels of sales growth.

Woolworths is expected to fare better than rivals such as Truworths International [JSE:TRU] and Shoprite Holdings [JSE:SHP] as it serves the more resilient high-income consumers.

"We expect sales growth to be broadly in line with the first half," the company said in a statement.

Shares in Woolworths are down about 7% so far this year, largely in line with the broad sell-off of local retailers but underperforming a near 5% gain on the blue-chip JSE Top 40 - (Tradeable) [JSE:J200] index.    

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

woolworths holdings

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

Goalkeeper saves five penalties with his FACE!

Nothing, and we mean nothing, will keep goalkeeper Scott Stirling from stopping the ball!

 
 

Men24.com

Hottie of the day: Jesselyn
This invention makes farts smell like chocolate!
11 things men don’t know about their clothes
Hilarious mortal kombat elevator prank!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...