Woolworths' supermarkerts earnings up 6%

SHARES in supermarket giant Woolworths surged on Thursday after the company announced a 19% increase in its first-half profit.

The $1.15 billion result helped boost the company's share price by almost 3%, with the price at $34.90 when the market closed.

Earnings from Woolworths' supermarkets was up 6% to $1.65 billion.

Net profit from continuing operations, excluding the sold electronics business Dick Smith, was up 4.2% at $1.25 billion. Sales from continuing operations was $30 billion, up almost 5%.

Shareholders will receive a full franked dividend of 62 cents, an increase of 5%.

Sales for the company's Masters Home Improvement business were up 54% to $637 million for the six months to December.

Woolworths also upgraded its full-year after tax result forecast to between 4-6%. The previous forecast had been for an after-tax profit of between 3-6%.


Community groups rally for homeless

Community groups rally for homeless

Community groups rally for homeless at the Winsome

Art recognises the memory

Art recognises the memory

Gallery plays host to new Art & Dementia Program

Give me Fisherman's Co-op over swanksville any day

Give me Fisherman's Co-op over swanksville any day

hygge is the Danish word for enjoying life's simple pleasures

Local Partners