Australia's largest supermarket chain, Woolworths Ltd
(ASX:WOW), has posted a 5.1 per cent rise in their third quarter sales.
The company says third-quarter food and liquor sales alone grew by 4.6 per cent to $9.16 billion, spurred on by higher prices for food items like bananas after crops were devastated by floods.
The food and liquor division posted same-store sales growth of 3.3 per cent, just shy of market forecasts for a 3.5 per cent rise.
Woolworths reported a net profit of $1.2 billion for the half year ending December 31, 2010.
