Woolworths predicts “subdued” trading for 2012

Australia’s largest supermarket chain, Woolworths Limited, today reported an increase in Net Profits After Tax (NPAT) of 5.1{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} for the year ending 26 June 2011. Woolworths’ outgoing CEO Michael Luscombe anticipated trading over the next year to be “subdued”, due to falling consumer confidence.

Commenting on the company’s full-year results, published today, Woolworths CEO Michael Luscombe claimed the company’s profit increase to be a “sound result” given the “particularly challenging” retail environment in Australia over the past year. AFN – Read more…​