Woolworths Limited (ASX:WOW) has posted a 5.1 per cent lift in its full year profit, at the lower end of its guidance and the lowest growth in 12 years.
Australia's largest retailer has also warned that subdued trading is likely to continue in the year ahead, with net profit growth forecast to ease to between 2 and 6 per cent.
In the 2011 financial year Woolworths delivered a net profit of $2.124 billion. Revenue from ordinary activities rose 4.9 per cent to $54.5 billion.
Outgoing CEO Michael Luscombe, who will be replaced by Grant O'Brien in September, has cautioned that retailers should prepare for a "tough year” ahead.
A final dividend of 65 cents has been declared, taking the total payout for the year to $1.22.
