NZ supermarkets boost Woolworths results
Woolworths reports growth and revenue boost following its complete re-branding of all its NZ supermarket stores.
New Zealand’s Countdown supermarkets have helped boost growth and revenue for Woolworths NZ for the first-half to January.
Re-branding of Woolworths’ outlets across the country as Countdown have given the company an earnings before interest and tax rise of 11% to $149 million in the second-half ended the first of January.
Total sales for the company managed to rise 3% to $2.88 billion, widening a gross margin by 61 basis points (23%).
Woolworths’ shares saw a climb to A$25.39, or 0.3%. Prior to this share rise the company reported a 17% drop in first-half net profit totalling at A$967 million.
The company says these results reflect its continuation of market share growth, customer numbers, basket sizes and items sold.
“This reflects the success of the conversion of stores to the value-positioned Countdown brand, which was completed just before Christmas.”
Sales for Woolworths were reported as rising by 5% to a total of A$29.9 billion.
NBR Staff
Thu, 01 Mar 2012
Thu, 01 Mar 2012
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NZ supermarkets boost Woolworths results
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