Woolworths profit to soar, shares jump
Woolworths profit to soar, shares
Johannesburg – Shares of Woolworths Holdings [JSE:WHL] surged more than 4% on Wednesday after the retailer said it expects first-half profits to rise by as much as 24%.
Woolworths, one of the best performers on Johannesburg’s Top 40 – (Tradeable) [JSE:J200] index in 2012, said it expects to post an increase of 18% to 24% in headline earnings per share for the 26 weeks to December 23, lifted by double-digit sales growth.
Shares of the company are up 4.6% at R66.20 at 07:22 GMT.