SYDNEY: Australian supermarket giant Woolworths Friday posted an 8.5 percent rise in its full-year net profit, boosted by growth in its food and liquor business even as its home improvement division struggled.
The country's largest food retailer said it was pleased with the Aus$2.45 billion (US$2.29 billion) result for the year to June 30, but that "there is still work to do, particularly in general merchandise and home improvement".
"In a highly competitive market with ongoing consumer uncertainty, we have increased market share whilst also delivering value to our customers," Woolworths chief executive Grant O'Brien said.
The firm reported a 3.9 percent increase in sales to Aus$60.8 billion, supported by a 4.7 percent rise in its Australian food and liquor division.
But its "Big W" general merchandise chain saw its earnings decline by 18.8 percent to Aus$152.9 million, which the group described as a "disappointing result".
Woolworths said while it was well-positioned for growth, it expected trading conditions to remain challenging in the 2015 financial year, "with consumers managing cost of living pressures in a time of economic uncertainty".
Woolworths shares were trading 1.0 percent lower at Aus$36.58 just before noon.
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