Australia’s Woolworths half-year profit falls 21% By Reuters

February 22, 2022 admin Stock News 0

© Reuters. FILE PHOTO: A man sits outside a Woolworths supermarket following the easing of restrictions implemented to curb the spread of the coronavirus disease (COVID-19) in Sydney, Australia, June 16, 2020. REUTERS/Loren Elliott

(Reuters) – Woolworths Group Ltd on Wednesday posted a 21% drop in half-year profit, as pandemic-induced costs hurt its earnings from consumers stocking up on essentials during long spells of lockdowns and restrictions.

Australia’s biggest supermarket operator said net profit after tax from continuing operations came in at A$676 million ($488.00 million), lower than A$850 million a year earlier.

($1 = 1.3852 Australian dollars)

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