WOOLWORTHS PROFIT FALLS
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GUEST: ROY BAGATTINI, WOOLWORTHS CEO
Woolworths has seen its earnings and profits drop as consumers in South Africa and Australia battle to find extra cash. Although the group’s financials for the first half of the 2024 financial year (H1 2024) are not comparable to the prior period (H1 2023) – as David Jones was included in H1 2023 – the group’s results were still heavily impacted by interest rate increases and elevated living costs.
Woolworths has seen its earnings and profits drop as consumers in South Africa and Australia battle to find extra cash. Although the group’s financials for the first half of the 2024 financial year (H1 2024) are not comparable to the prior period (H1 2023) – as David Jones was included in H1 2023 – the group’s results were still heavily impacted by interest rate increases and elevated living costs.
