Woolworths Limited operates supermarkets, specialty and discount department stores, liquor and electronics stores throughout Australia. Woolworths also manufactures processed foods, exports and wholesales food and offers petrol retailing. The Company also operates hotels, which includes pubs, food, accommodation, and gaming operations.
Blue chip supermarket giant Woolworths posted a 1H FY12 profit of $966.9 million, a 16.8% fall compared to the same period in FY11. The results missed analyst expectations.
Revenue for the period was up 5% to $29.9 billion.
CEO Grant O’Brien said that the results were sound considering subdued consumer confidence and deflationary pressures faced by the business.
The company declared an interim dividend of $0.59 per share, up from $0.57 in FY11