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South African retailer Woolworths reports 8.9 pct rise in FY profit

South African retailer Woolworths reports 8.9 pct rise in FY profitSouth African retailer Woolworths reports 8.9 pct rise in FY profit

JOHANNESBURG Aug 25 South African retailer
Woolworths Holdings reported an 8.9 percent rise in
full-year profit as its food sales gained more market share
despite a weak economy its home market.

* Adjusted diluted headline earnings per share was 453.4
cents for the year until June 30 compared to 416.4 cents in the
previous year.

* Woolworths Food continues to gain market share, the
company said.

* Headline earnings per share (EPS) is the main profit
measure used in South Africa that strips out certain one-off
times.

* The retailer bought Australian department store David
Jones in 2014.

* “The South African customer continues to be under
pressure, and the Australian trading environment continues to be
tough,” Woolworths said in a statement.

* Both markets have become more competitive with the arrival
of northern hemisphere retailers and increased promotional
activity, the company said. (Reporting by TJ Strydom; editing by Jason Neely)

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