2011/07/19
WHL - Woolworths Holdings Limited - Trading update and trading statement [JSE Securities Exchange - SENS]
 
WOWOW                                                                           
WHL - Woolworths Holdings Limited - Trading update and trading statement        
Woolworths Holdings Limited                                                     
(Incorporated in the Republic of South Africa)                                  
Registration number: 1929/001986/06                                             
Share code: WHL     ISIN: ZAE000063863                                          
("Woolworths Holdings" or "the group")                                          
TRADING UPDATE AND TRADING STATEMENT                                            
TRADING UPDATE FOR THE YEAR ENDED 26 JUNE 2011                                  
Group sales increased 9.4% for the year ended 26 June 2011, with sales in       
comparable stores up 6.3%.                                                      
Clothing sales in South Africa increased 11.5% (9.4% in comparable stores) and  
Food sales increased 10.7% (8.4% in comparable stores).  General Merchandise    
growth was impacted by the rationalisation of the cellular handset business in  
the first half of the year.  Excluding this rationalisation, General Merchandise
grew 5.2% (5.1% in comparable stores).                                          
SA retail space grew 7.6%, which included 22,850m2 of franchise conversions,    
which largely occurred towards the end of the year.  Excluding these            
conversions, corporate space in South Africa grew 2.1%.                         
Sales in Australia through the group's Australian subsidiary Country Road       
contracted 2% as the Australian retail environment continues to struggle, with  
comparable sales down 10.9%.  Store expansions and the continued roll out of    
Trenery-branded stores resulted in space growth of 9.3% in Australia.  Country  
Road's South African sales are included in the South African geographic segment 
in the table below.                                                             
               Sales growth  Comparable     Price                               
                            stores sales   movement                             
                           growth                                               
South Africa                                                                    
- Clothing      11.5%         9.4%           3.3 %                              
- General                                                                       
merchandise     -2.7%         -3.5%          -6.8%                              
- Food          10.7%         8.4%           3.0%                               
Australia AU$   -2.0%         -10.9%                                            
Group           9.4%          6.3%                                              
The Woolworths Financial Services closing debtors' book was 4.8% up on last     
year. The impairment charge as a percentage of average gross receivables was 1.4
% (2009: 5.1%).                                                                 
TRADING STATEMENT                                                               
We expect that both earnings per share and headline earnings per share for the  
year will be between 20% and 30% higher than the corresponding reporting period.
Shareholders are advised that the financial information contained in this       
announcement has not been reviewed and reported on by the group's external      
auditors.                                                                       
The group's results for the year are due to be released on SENS on or about 25  
August 2011.                                                                    
Contact:                                                                        
Ian Moir (Group chief executive officer) on 021 407 2809                        
Norman Thomson (Group finance director) on 021 407 3337                         
Cape Town                                                                       
19 July 2011                                                                    
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 19/07/2011 08:00:01 Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          
Source: JSE Securities Exchange - SENS
 
DISCLAIMER: http://www.mcgbfa.com/disclaimer.htm
 
Email
 
Print