Woolies takes $2.5bn hit as profit stagnates

Original article by Eli Greenblat
The Australian – Page: 19 : 21-Feb-19

Grocery giant Woolworths Group has posted a 2018-19 interim net profit of $979m, which is one per cent higher than previously. Net profit from continuing operations, rose by 2.1 per cent to $920m and sales were up 2.2 per cent at $30.704bn. Analyst say the half-year results were disappointing, and Woolworths CEO Brad Banducci has warned that the retail trading environment is likely to remain challenging in the second half. Shareholders will receive an interim dividend of $0.45 per share.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, WOOLWORTHS SUPERMARKETS, BIG W DISCOUNT STORES, DAN MURPHY’S, ENDEAVOUR DRINKS, COLES SUPERMARKETS AUSTRALIA PTY LTD, COLES GROUP LIMITED – ASX COL, EG GROUP

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