Woolworths Group Limited (WOW.AX) reported that its net profit after tax attributable to equity holders of the parent entity before significant items for half-year ended 5 January 2025 declined 20.6% to A$739 million from last year reflecting lower EBIT and higher finance costs, somewhat offset by lower tax.
Profit attributable to equity holders of the parent entity for the period was A$739 million or 60.2 cents per share compared to a loss of A$781 million or 64.1 cents per share in the prior year.
Revenue for the period was A$35.93 billion up from A$34.64 billion in the prior year. Group sales for the first-half of 2025 increased by 3.7% or 2.5% excluding Petstock with Group EBIT decreasing 14.2%. The decline in Group EBIT reflected lower EBIT from Australian Food which was impacted by 17 days of industrial action disrupting the flow of stock into stores and homes, value-seeking customer behaviour, one-off supply chain commissioning and dual-running costs and a lower EBIT contribution from BIG W in a highly competitive discount retail segment.
Excluding industrial action, Australian Food sales growth would have been approximately 3.7%. Excluding Petstock, which was acquired in January 2024, and the impact of industrial action, Group sales would have increased by approximately 3.2%.
The Board has declared a fully franked interim dividend per share of 39 cents down 17% compared to the prior year, reflecting lower earnings.
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