Monday, June 27, 2022

Woolworths releases half-year results

Woolworths presents its half-year results which shows it saw an increase of 10.6%, with a total of $35,845 million in Group sales.

“I am incredibly proud of the achievements of our team during the half, which went well beyond our financial results,” says Woolworths Group CEO, Brad Banducci.

E-commerce Sales saw a rise of 77.9% with a total of $2,937 million and Group EBIT total rose 10.5% with a total of $2,092 million.

“We supported our customers, whether they wanted to shop in store or online, and were able to do this in a safe and convenient way.”

“The first half of F21 continued to be impacted by COVID, with elevated sales and higher costs, as we worked to maintain a COVIDSafe environment for our customers and team.”

Australian Food, BIG W and Endeavour Drinks all reported sales growth well-above trend.

Mr Banducci continues, “Endeavour Drinks sales continued to benefit from increased at-home consumption and trading up with Dan Murphy’s and BWS both maintaining strong sales growth during the half and achieving record Christmas Eve sales.

“Total sales increased by 19% and EBIT grew 24.1%, despite higher costs associated with COVID, team wages, and investment in digital and e-commerce.”

Mr Banducci concludes, “In summary, by living our purpose of Creating Better Experiences Together for a Better Tomorrow, we have successfully navigated a challenging 2020, continued to put our customers and team first, and delivered a strong Group financial result.”

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