Woolworths H1 Net Profit Rises 19%

Woolworths

reported a 19% rise in its first-half net profit. Woolworths' net profit for the period surged to 1.15 billion Australian dollars (US$1.18 billion), from A$966.9 million, in the year-ago period. However, analysts were expecting a profit of A$1.195 billion. It raised its fiscal 2013 net profit forecast to 4%-6% growth, versus its prior forecast of 3%-6% growth. Its revenue for the first half climbed 3.2% to A$30.88 billion from $29.91 billion. Woolworths also announced its plans to pay an interim dividend of 62 Australian cents per share, versus 59 cents per share. Woolworths shares closed at $35.00 yesterday.