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WOOLWORTHS SALES RISE 6.4PCT 1H FY2004.

AsiaPulse News

| February 02, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Feb 2 Asia Pulse - Total sales for Woolworths Ltd (ASX:WOW) rose 6.4 per cent to $A15.074 billion ($US11.48 billion) for the first half of financial year 2003/04, according to Woolworths chief executive Roger Corbett.

He also said that sales growth from continuing operations was 7.6 per cent for the half year ended January 11, 2004.

"Food and liquor comparable sales strengthened in the second quarter in line with expectations," he said.

"Comparable sales growth in Big W and Consumer Electronics remains strong, with overall comparable store sales increasing 4.3 per cent for the group.

Christmas trading was strong in all divisions, Woolworths said.

Woolworths said it expects sales from continuing operations for the full year to grow in the upper single digits and earnings growth in the low double digits.

"With strengthened food and liquor sales results and the continued drive on costs we have increased the bottom end of our EPS (earnings per share) guidance range by one per cent," Mr Corbett said.

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Source: HighBeam Research, WOOLWORTHS SALES RISE 6.4PCT 1H FY2004.

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