Woolworths Holdings Limited - Trading update for t
WHL
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Woolworths Holdings Limited - Trading update for the 52 weeks to June 2006
Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 1929/001986/06
Share code: WHL & ISIN: ZAE000063863
("Woolworths Holdings" or "the Company")
Trading update for the 52 weeks to June 2006
Woolworths Holdings increased sales for the 52 weeks to June 2006 by 16.3%
compared to the same period last year. Comparable store sales growth was 9.9%.
Woolworths, Clothing and Home grew sales by 12.4% in total and 8.2% in
comparable store sales with an average deflation rate of approximately -1% over
the period. Food sales grew by 22.5% in total and by 11.9% in comparable store
sales with an average inflation rate of approximately 4.2% over the period.
Expansion in corporate stores resulted in an increase of 6.4% in trading space
in Clothing and Home, and 11.9% in Food over the period.
Sales for the Australian subsidiary Country Road are in line with our
expectations.
Simon Susman, Chief executive said:
"Sales performance reached expectations, however, expenses have come under
pressure with higher than planned levels of bad debt and other non-comparable
provisions. Our tax rate will also be affected by the non-comparability of the
STC incurred on dividend payments during the year."
The publication of the results of the Company for the twelve months to 30 June
2006 is scheduled for 23 August 2006.
Contact:
Simon Susman (Chief Executive Officer) on 021 407 2700
Norman Thomson (Finance Director) on 021 407 3337
Cape Town
20 July 2006
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 20/07/2006 03:52:03 PM Produced by the JSE SENS Department
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