Friday, April 17, 2009

Woolies profit up 6.5pc

SUPERMARKET giant Woolworths said third quarter sales increased by 6.5 per cent, adjusted for Easter, to $12.3 billion for the 13 weeks to April 5.

The rise was 5.9 per cent excluding Easter sales.

Excluding petrol sales, sales increased by 8.3 per cent or 9.0 per cent (adjusted for Easter).

Woolworths said it expects sales from continuing operations will grow in the upper single digits (excluding petrol sales) on a 52 week basis.

But this guidance is subject to uncertainty over macroeconomic factors affecting discretionary spending, including inflation, fluctuating petrol prices, interest rates, unemployment and consumer confidence levels.

Lower petrol prices led to a sales drop of 11.4 per cent excluding Easter, with comparable dollar sales slumping by 15.2 per cent on the previous corresponding period.

But total petrol sales volumes increased by 5.9 per cent for the third quarter excluding Easter, Woolworths said in a statement.




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