Afternoon Update: Woolworths explains profit surge amid cost-of-living crisis; fears for famous seal; and Dolly Parton’s life in quotes
Want to get this in your inbox every weekday? Good afternoon. Woolworths has reported a $175m surge in net profit to $1.14bn , but the supermarket giant’s chief executive, Amanda Bardwell, said it had not done so by lifting shelf prices. Teenage girl allegedly raped in ‘heinous’ attack at Queensland…
Woolworths Group reported a 12.7% surge in profit for FY2026, driven by improved execution, digital innovation, and contributions from all trading segments. While sales growth was modest at 3.6% to $71.5 billion, the company's EBIT before significant items grew by 12.7% to $3.1 billion, and net profit after tax rose 15.4% to $1.6 billion. The company's shares rose 4.08% to $40.435 following the announcement, nearing its 52-week high of $41.19.
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