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    WOW   AU000000WOW2

WOOLWORTHS GROUP LIMITED

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Australia's Woolworths announces $1.5 bln buyback as annual profit jumps

08/25/2021 | 07:14pm EDT

Aug 26 (Reuters) - Woolworths Group announced a A$2 billion ($1.45 billion) share buyback on Thursday and reported a 20% jump in annual profit as lockdowns sparked demand for household essentials.

Australia's biggest supermarket chain also said it had recorded strong sales growth so far in the new fiscal year as a return to lockdown in parts of Australia and New Zealand once again prompted people to stock up on essentials.

Sales at its Australian food business were up 4.5% in the first eight weeks of the financial year 2022, but the company joined smaller rival Coles Group last week in saying that the trading environment was volatile.

"Higher than anticipated sales growth has resulted from lockdowns across the country but particularly in our largest state, New South Wales, as in-home consumption has again increased," Woolworths said in a statement.

Net profit after tax from continuing operations before significant items climbed to A$1.50 billion in the year ended June 27, from A$1.25 billion a year ago.

On top of the buyback that followed the demerger of Endeavour Group in June, Woolworths also announced a nearly 15% jump in its final dividend to 55 Australian cents per share.

($1 = 1.3748 Australian dollars) (Reporting by Nikhil Kurian Nainan and Soumyajit Saha in Bengaluru; Editing by Arun Koyyur and Aditya Soni)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COLES GROUP LIMITED 0.67% 17.95 End-of-day quote.-1.05%
ENDEAVOUR GROUP LIMITED 1.36% 6.73 End-of-day quote.0.00%
WOOLWORTHS GROUP LIMITED 1.64% 40.29 End-of-day quote.2.49%
All news about WOOLWORTHS GROUP LIMITED
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10/18WOOLWORTHS : Completes Off-Market Share Buy-Nack Program Worth Over $1 Billion
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10/17Tranche Update on Woolworths Group Limited's Equity Buyback Plan announced on August 26..
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10/15WOOLWORTHS : Announces Off-Market Repurchase of Company Shares
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10/13WOOLWORTHS : appoints new Chief Supply Chain Officer and MD Primary Connect
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10/10COMMONWEALTH BANK OF AUSTRALIA : Australian watchdog sues CBA for underpaying staff
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10/07WOOLWORTHS : Settles Class-Action Suit
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Analyst Recommendations on WOOLWORTHS GROUP LIMITED
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Financials
Sales 2022 58 116 M 43 422 M 43 422 M
Net income 2022 1 632 M 1 219 M 1 219 M
Net Debt 2022 15 026 M 11 227 M 11 227 M
P/E ratio 2022 30,3x
Yield 2022 2,45%
Capitalization 48 625 M 36 331 M 36 331 M
EV / Sales 2022 1,10x
EV / Sales 2023 1,07x
Nbr of Employees 210 067
Free-Float 95,3%
Chart WOOLWORTHS GROUP LIMITED
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Woolworths Group Limited Technical Analysis Chart | WOW | AU000000WOW2 | MarketScreener
Technical analysis trends WOOLWORTHS GROUP LIMITED
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 40,29 AUD
Average target price 38,54 AUD
Spread / Average Target -4,33%
EPS Revisions
Managers and Directors
Bradford Banducci Chief Executive Officer, MD & Executive Director
Stephen Harrison Group Chief Financial Officer
Gordon McKellar Cairns Independent Chairman
John Hunt Chief Information Officer
Rob McCartney Chief Medical Officer
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