Business Services Industry
AUSTRALIA'S WOOLWORTHS LIFTS YR EARNINGS FORECAST.
AsiaPulse News, February, 2003
SYDNEY, Feb 24 Asia Pulse - Woolworths Ltd (ASX:WOW), Australia's largest supermarket group, has raised its annual earnings forecast after posting a strong increase in first half profit.
Woolworths also said sales for the first five weeks of the second half remained strong and announced a $A500 million ($US298.15 million) to $A600 million ($US357.78 million) share buyback.
The retailer reported a 17 per cent increase in first half net profit to $A372.1 million ($US221.88 million), in line with analysts' expectations.
"Strong growth in sales and profit reflected clear customer acceptance of the Woolworths offer of greater convenience, best quality and better ranges at lowest prices," Woolworths chief executive Roger Corbett said.
"Going...
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