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
TRADING UPDATE AND TRADING STATEMENT
TRADING UPDATE: 26 WEEKS TO 25 DECEMBER 2011
Group sales for the first 26 weeks of the 2012 financial year increased
11.4% over the comparable period in 2011. Sales in comparable stores grew
Clothing sales in South Africa grew by 11.2% with a price movement of 7%.
Sales in comparable stores grew by 5.9%, up from 4.9% at 20 weeks.
Food sales grew by 11.7% with price movement of 4.8%. Sales in comparable
stores grew by 8.4%, up from 7.2% at 20 weeks.
General merchandise grew by 6.2% and by 4.2% in comparable stores, up from
2.5% at 20 weeks.
Woolworths retail space, including Africa, grew by 2.3% year-on-year, net of
closures and excluding franchise conversions. Franchise store conversions
are on track with 50 stores now converted. A further 8 will be converted
during the balance of the year and 17 stores will remain franchised.
Converted franchise stores are treated as non-comparable.
Sales in Australia contracted 2.8% in Australian dollar terms, with sales in
comparable stores declining by 5.5%. Space in Australia grew by 0.7%.
Country Road's South African sales are included in the South African
The Woolworths Financial Services debtors' book reflected year on year
growth of 6.7% at the end of December 2011. The impairment rate for the six
months to December 2011 was 1.7% compared with 1.6% for the equivalent
period last year.
We expect that both earnings per share ("EPS") and headline earnings per
share ("HEPS") for the 26 week period to 25 December 2011 will be between 30-
35% higher than the corresponding reporting period. Included in both EPS
and HEPS is a R41m post-tax unrealised gain from the mark-to-market of
foreign exchange contracts open at 25 December 2011.
Shareholders are advised that the financial information contained in this
announcement has not been reviewed and reported on by the Group's external
The Group's interim results for the 26 week period to 25 December 2011 are
scheduled to be announced on SENS on or about 16 February 2012.
Ian Moir (Group chief executive officer) on 021 407 2809
Norman Thomson (Group finance director) on 021 407 3337
17 January 2012
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 17/01/2012 08:00:14 Produced by the JSE SENS Department.
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