Australia's Woolworths posts 16% rise in first-half profit

Reuters

02/25

Feb 25 (Reuters) - Woolworths WOW.AX on Wednesday reported a 16.4% rise in half-year underlying profit, helped by growth in its core Australian Food unit and lower prices aimed at attracting customers.

Australia's top supermarket chain said underlying net profit after tax rose to A$859 million ($606.28 million) for the 27 weeks ended January 4, compared with A$739 million last year and a Visible Alpha consensus estimate of A$813.5 million.

($1 = 1.4168 Australian dollars)

(Reporting by Shivangi Lahiri and Rajasik Mukherjee in Bengaluru; Editing by Tasim Zahid)

((Rajasik.Mukherjee@thomsonreuters.com;))

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