Woolies thrives but Banducci stays cautious

Original article by Eli Greenblat
The Australian – Page: 17 & 20 : 30-Aug-19

Groceries and liquor giant Woolworths Group has posted a 2018-19 net profit of $2.693bn, which is 56.1 per cent higher than previously. Its profit from continuing operations was down per cent at $1.49bn following the sale of its petrol division, but group sales rose 5.3 per cent to $59.98bn. Woolworths’ core Australian supermarkets division recorded earnings and sales growth of 5.7 per cent and 5.3 per cent respectively. Big W’s sales were 6.5 per cent higher, although the discount department store chain posted an EBIT loss of $85m.

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

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