Woolworths Limited
(ASX:WOW) has posted its first annual profit fall in more than a decade, its net profit dropping 14.5 per cent to $1.8 billion in fiscal 2012.
Australia's largest supermarket chain says the result was impacted by write downs on divesting its Dick Smith division and costs associated with restructuring.
On an underlying basis the company’s profit rose in line with guidance, up 3.6 per cent to $2.18 billion over the year.
CEO Grant O’Brien says the underlying performance was pleasing given the toughest retail conditions in recent times but has also forecast these challenging retail trading conditions will continue.
A final fully franked dividend of 67 cents per share has been declared, bringing the full year payout to $1.26.
