Woolworths Annual Net Profit Down 15%

Woolworths Ltd

reported a 15% drop in its annual net profit. Woolworths' net profit for the period fell to 1.82 billion Australian dollars (US$1.90 billion), versus A$2.12 billion, in the prior year. Its profit from continuing operations came in at A$2.18 billion, versus analysts' estimates of A$2.17 billion. Woolworths announced its plans to pay a final dividend of 67 Australian cents per share, versus 65 cents per share in the previous year. Woolworths shares closed at $68.70 yesterday.