Woolies pleases investors

SUPERMARKET giant Woolworths has pleased investors with its full-year sales figures, with a strong fourth quarter lifting the result.

Overall, the Woolworths group reported sales of $56.7 billion in the 2012 financial year, an increase of 4.7 per cent on the previous year.

The key supermarket business recorded a 4.9 per cent annual rise in sales, however much of this growth was driven by an 11.4 per cent increase in petrol sales (mostly due to higher fuel prices).

Excluding fuel, the Australian food and liquor business grew sales 3.8 per cent over the past year, boosted by 1.3 per cent growth in the fourth quarter.

The company's chief executive Grant O'Brien says he is happy with the result.

Read more at ABC news online.


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