WOOLIES: 5,051 -72 (-1.41%)
South Africa's Woolworths FY profit down 17.7 pct, misses estimates
JOHANNESBURG, Aug 23 (Reuters) - South African retailer
Woolworths reported a worse-than-expected 17.7 percent
drop in annual earnings on Thursday, hit by restructuring costs
at its Australian unit and poor performance in its clothing
business at home.
Woolworths, which sells groceries, food and homeware, said
headline earnings per share (EPS) for the year ended June
declined to 346.3 cents versus a 380 cents estimate, or 9.7
percent fall, in a poll of 10 analysts by Thomson Reuters'
Headline EPS, the most widely watched profit gauge in South
Africa, strips out certain one-off items.
Sales of the Cape Town-based company rose 1.6 percent to
75.2 billion rand ($5.14 billion).
($1 = 14.6363 rand)
(Reporting by Nqobile Dludla
Editing by Tiisetso Motsoeneng)
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