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Woolworths pulls $2bn profit amid supply chain investment

30 Aug 2010

Source:  Supply Chain Review

Woolworths has recorded a more than 10 percent increase in profit to $2 billion, as it unveils plans to improve its supply chain operations. The supermarket giant today released its final profit report for last financial year. The 10.1 percent rise was propelled by sales of $51.6 billion – a 4.2 percent increase.

Woolworths CEO and Managing Director Michael Luscombe says the result is at the higher end of what the company predicted and labelled it a good result in a challenging trading period. Woolworths Chairman James Strong says the company’s financial position helped it offset the effect of the global financial crisis.

“The year has seen significant global economic challenges that will continue in the near term,” he says.
The company credited the financial performance of its supply chain for its strong bottom line.

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