Woolworths reported FY HEPS up 5.3% to 282.3c, versus a guidance midpoint of 281.5c. Turnover and concession sales increased 4.3% to R84.5bn. Results benefited from strong Food growth and online sales, offset by weaker Food, Beauty and Home (FBH) margins. Like-for-like sales rose 3.7% for Food, 4% for FBH and 1.6% for the Country Road Group (CRG). The outlook remains cautious, with near term trading conditions expected to stay challenging. Total dividend increased 5.9% to 199c per share.
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