Original article by Sue Mitchell
The Australian Financial Review – Page: 16 : 13-Nov-18
Shaun Cousins of JP Morgan estimates that the sale of Woolworths’ fuel retailing business will reduce earnings per share by 7.4 per cent in 2020 and 8.1 per cent in 2021. However, the impact on EPS would be lower if Woolworths opts to return the proceeds of the sale to shareholders via a buyback. Woolworths is widely tipped to return most of the sale proceeds to investors, having initially flagged its intention to use some of the funds to reduce to debt and finance store refurbishments.
WOOLWORTHS GROUP LIMITED – ASX WOW, JP MORGAN AUSTRALIA LIMITED, EG GROUP, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, BP PLC, CITIGROUP PTY LTD, BIG W DISCOUNT STORES, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, ENDEAVOUR DRINKS