In South Africa Woolworths sees surge in H1 profit

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

  • Published:
The entrance to a Woolworths store is pictured in a shopping mall in Johannesburg June 19, 2014. REUTERS/Rogan Ward play The entrance to a Woolworths store is pictured in a shopping mall in Johannesburg June 19, 2014. REUTERS/Rogan Ward (Reuters)
24/7 Live - Subscribe to the Pulse Newsletter!

South Africa's high-end retailer Woolworths expects first-half profit to increase by 25-35 percent year-on-year with sales also forecast to rise, the company said in a trading update on Thursday.

Woolworths, which sells products similar to those of Britain's Marks and Spencer, said that without including the impact of David Jones, whose acquisition was effective in August 2014, group sales grew by 12.3 percent.

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

Woolworths will publish its half year results on Feb. 11.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.