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Reuters
Published
Jul 14, 2016
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South Africa's Woolworths sees FY profit up 15 to 25 percent

By
Reuters
Published
Jul 14, 2016

South African retailer Woolworths Holdings Ltd expects full-year profit to increase by 15 to 25 percent as sales for the 52 weeks to end June 2016 rose, the company said in a trading update on Thursday.


Woolworths



Woolworths, which sells products similar to those of Britain's Marks and Spencer, said that excluding the impact of David Jones, whose acquisition was effective in August 2014, group sales grew by 16.4 percent.

Headline earnings per share (EPS) is the main profit measure used in South Africa that strips out certain one-off times.

Shares in Woolworths were up 1.33 percent at 84.00 rand in early-morning trading.


 

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