Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Woolworths NZ lifts first-half sales 2.3 percent

Woolworths NZ lifts first-half sales 2.3 percent

Jan. 31 (BusinessDesk) - Australian supermarket chain Woolworths, which accounts for about 40 percent of New Zealand's supermarket sales, increased first-half revenue 2.3 percent on this side of the Tasman, even as trading conditions remain tough and consumer price growth non-existent.

The group's New Zealand supermarkets increased sales to $2.94 billion in the 27 weeks ended Dec. 30 from $2.88 billion a year earlier, the ASX-listed company said in a statement. Total group sales rose 3.2 percent to A$30.68 billion, including a A$642 million contribution from its Dick Smith Electronics stores, which it sold in the period.

"In a market characterised by low growth and even lower inflation, retail trading conditions have become increasingly challenging," said David Chambers, managing director of local supermarket unit Progressive Enterprises. "Our strong brand, new store formats and continually improving offers have enabled us to continue to increase our market share throughout the half."

Woolworths New Zealand, the local holding company, boosted annual profit 29 percent to $128.9 million in the 2012 financial year on a 3.5 percent increase in sales, according to documents lodged with the Companies Office.

Those earnings gains have come in a period when inflation is easing, and government figures this month showed the consumers' price index fell 0.2 percent in the December quarter.

The Countdown Supermarkets food price index showed inflation of just 0.1 percent in the six-month period, with second-quarter deflation in dairy products.

Woolworths said it passed on lower costs of milk, butter and cheese to its customers, and held more frequent promotions.

Shares in the Australian group fell 1 percent to A$31.35 on the ASX today.

(BusinessDesk

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Constructions Builds: Consents Top $2 Billion For The First Time

Building consents reached a record $2 billion in March 2017, boosted by new homes and several big non-residential projects, Stats NZ said today. This was up 37 percent compared with March 2016. More>>

Other Stats:

Health: Work Underway To Address Antimicrobial Resistance

As part of a global response the Ministries of Health and Primary Industries have today jointly published ‘Antimicrobial Resistance: New Zealand’s current situation and identified areas for action’ to respond to the changing pattern of antimicrobial resistance in New Zealand. More>>

ALSO:

Employment: Vodafone Announces Family Violence Policy To Support Team

From today, any of Vodafone’s 3,000 workers affected by family violence will be eligible for a range of practical support, including up to 10 additional days of paid leave per year. More>>

Burning Up Over Saturn: Cassini's Grand Finale

With propellant running low, NASA scientists are concerned that the probe might accidentally crash into one of Saturn’s nearby moons, which could contaminate it with Earthling bacteria stuck to the spacecraft. Instead, the spacecraft will be safely "disposed" in Saturn's atmosphere. More>>

ALSO:

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news