WHL - Woolworths Holdings Limited - Trading Update for the 52 weeks to June 2007
Woolworths Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 1929/001986/06
Share code: WHL ISIN: ZAE000063863
("Woolworths Holdings" or "the Company")
TRADING UPDATE FOR THE 52 WEEKS TO JUNE 2007
Woolworths Holdings increased sales for the 52 weeks to June 2007 by 22.3%
compared to the same period last year. Comparable store sales growth was 15.1%.
Woolworths, clothing and home grew sales by 16.2% in total and 12.8% in
comparable stores with an average inflation rate of approximately 2.8% over the
period. Food sales grew by 25.6% in total and by 15.1% in comparable stores with
an average inflation rate of approximately 8.3% over the period.
Trading space increased by 3.7% in clothing and home and 12.1% in food as at 30
June 2007, compared to the prior year.
Woolworths Financial Services grew the combined debtors' books by 25.3%.
Interest yields increased to 20.0% (2006: 18.9%) following the increase in Usury
rates in March while a tougher collections environment saw the net bad debt and
provisions charge, expressed as a percent of the gross book, increase to 7.0%
Country Road grew total sales by 15.9% in Australian dollar terms. Retail sales,
excluding concession sales, grew by 15.1% in Australian dollars and by 12.6% in
comparable stores compared to the prior year.
The company is currently finalising its results for the twelve months to 30 June
2007 which should be published on 23 August 2007. In this regard, shareholders
are advised that headline earnings per share and earnings per share are likely
to be between 15% and 25% higher than the prior year. Earnings per share will be
higher than headline earnings per share, mainly due to a R46.7 million profit
after tax made on the disposal of land in Midrand, Gauteng.
The forecast information on which this trading statement is based has not been
reviewed and reported on by the Company's auditors.
Contact: Simon Susman (Chief executive officer) on 021 407 2700
Norman Thomson (Finance director) on 021 407 3337
Cherrie Lowe (Group secretary) on 021 407 3160
18 July 2007
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 18/07/2007 08:00:05 Produced by the JSE SENS Department.