Woolworths (ASX:WOW) profits to fall despite sales growth

Company News

by Rachael Jones

Woolworths (ASX:WOW) released a trading update today showing expected earnings before interest and tax to fall between between $3.2 billion and $3.25 billion.

Financial year 2020 expected pre-tax significant items of $591 million compared to the second half of $460 million.

There are plans to develop two new automated distribution centres at Moorebank in NSW.

Construction is expected to be completed by the end of calendar 2023 with initial benefits expected to be realised in financial year 2025.

Shares in Woolworths (ASX:WOW) are trading 0.14 per cent lower at $36.61.

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.