Retail giant Woolworths
(ASX:WOW) has reported a 19 per cent increase in first half net profit, on the back of a 6 per cent spike in sales.
Net profit rose to of $1.15 billion, prompting Woolworths to upgrade its guidance for the full year between four and six per cent.
Woolworths will pay an interim dividend of 62 cents, fully franked, a rise of 5.1 per cent on last year.
The strong result comes amid an investigation into alleged anti-competitive practices by the competition watchdog.
Woolworths has denied abusing its market dominance, namely discriminating against small suppliers in favour of its own private label brands.
