Woolworths announces $2bn net profit to benefit shareholders

Woolworths’ full-year profit has skyrocketed almost 78 per cent to produce a $2.1bn net profit for 2020/21 despite the ongoing pressures of the Covid-19 pandemic.

The figure compares with $1.2bn in the previous year, with sales up by 5.7 per cent.

But the increase is also significantly due to one-off gains this year (+$102m) and some one-off write downs last year (-$437m).

The supermarket also announced a $2bn off-market share buyback, taking the dividend for the year to $1.08 per share — up 14.9 per cent.




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