Woolies boasts boost in profit
28 August 2015 - 09:59
Woolworths, South Africa's biggest retailer by market capitalisation, reported a 20.5% rise in full-year profit, boosted by sales at the Australian department store chain it bought last year and defying a tepid economy at home. Adjusted pre-tax profit rose to R5.27-billion in the year to June from R4.38-billion the previous year.In Australia it will close some of its David Jones stores in Sydney and Melbourne and consolidate them into larger stores. -Reuters..
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