South African retailer Woolworths Holdings has booked strong earnings growth during the first half of its fiscal year on the back of a 9.8% increase in turnover.
Total sales for the 26 weeks to the end of December increased to ZAR12.7bn (US$1.78bn). Food sales rose 11.8% for the period and comparable-store sales increased by 9.1%.
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Adjusted headline earnings per share rose 25.8% to 100.8 cents per share, from 80.1 cents previously.
Looking to the remainder of the year, the retailer said yesterday (17 February) that trading in South Africa had been “positive” and insisted that it expects turnover growth to continue apace.
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