Woolworths reported a 17 percent rise in first-half profit yesterday as its well-heeled customers splashed out on luxury goods even as the rest of the consumer market grapples with high personal debt.
Woolworths said headline earnings per share totalled
Headline earnings are the main profit gauge in
But Woolworths is faring better as most of its customers are from the high-income category.
Sales rose 16.2 percent to R19.382 billion compared with the same period the previous year. Woolworths said it expects second-half sales growth to be broadly in line with the first half.
The firm declared an interim dividend of
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