Key takeaway: A strong operational performance in a challenging market and while the company has now dealt with its staff underpayments issue, it is yet to face the Asic inquiry into price gouging.
Remediation costs for underpayment of employees have resulted in a 49% fall in interim net profits at ASX-listed supermarket giant Woolworths, clouding what was a strong performance from the group across Australia and New Zealand.
Taking into account “significant items” flowing from last
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Key points
Net profit: up 16.4% to A$859m
Group sales: up 3.4% to A$37.1b
Key takeaway: A strong operational performance in a challenging market and while the company has now dealt with its staff underpayments issue, it is yet to face the Asic inquiry into price gouging.
