Woolworths profit jumps 12.5%

Company News

by Rachael Jones

Retail giant Woolworths (ASX:WOW) has reported net profit after tax of $1.7 billion for the 12 months to June 24, up from $1.5 million last year that’s a 12.5 per cent increase.

Group sales from continuing operations are up 3.4 per cent to $56.7 billion from $54.8 billion on the same corresponding period last year.

Group EBIT from continuing operations up 9.5 per cent to $2.5 billion.

The company's department store chain, Big W, ran at a $110 million EBIT loss, an improvement from last year when it lost $151 million.

They announced a dividend per share of $1.03 including 10 cents special dividend, up 22.6 per cent from last year.
Shares in Woolworths (ASX:WOW) closed 0.34 per cent lower to $29.60 on Friday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.