Woolworths posts $1.5b profit amid COVID-19 outbreaks and supply shortages

abc.net.au/news/woolworths-annual-profit-covid-19-outbreaks-supply-shortages/101370054Woolworths has reported its annual profit rose slightly despite product shortages caused by floods in NSW and Queensland earlier this year, and COVID-19 outbreaks leading to a surge in sick workers taking days off.

The retailer's net profit from continuing operations rose 0.7 per cent to $1.51 billion — a result which fell "below our aspirations", according to its chief executive Brad Banducci.However, that figure was inflated by Woolworths splitting off its liquor business Endeavour Group into a separate company.It will pay shareholders a final dividend of 53 cents per share.

costofliving? LNP has a solution Let them eat yellowcake. It might be something affordable even if it isn't easy to swallow

They seem like they could easily freeze food prices and keep constantly raising them. But have to make 1.6bn profit, as 1.5bn just won't do. Haha

What did you expect? The premiers shut down all their competition...

People remember to shop at small locally owned businesses….yes, when + where possible 😁

Pure greed. Nothing but greed. This is the only ambition of modern capitalist BIG business conglomerates. The Woolworths - Coles Duopoly should NEVER have been allowed. They have almost killed off local small family owned businesses at will. ThievingBastards

Woolies and Coles’ business models rely on exploitation and the sale of sub-par produce. All profit driven at the expense of their employees and the consumer. Better off supporting your local grocer instead

taxpayer funded profits & the precedent set for casualisation along with low wages to ensure huge wages for execs, is this really capitalism & free markets or some other kind of system for pilfering auspol abcnews

All the big business are proffering from the inflation except the people and small businesses It is obvious that rhe governments jobs These says are to make big businesses Money and improvish the rest The media has to stop covering up

This is what happens when Woolworths and Coles hold the duopoly. It is obnoxious that so many families struggling to liveweek to week have to witness such blatant greed and profiteering at their expense. Don't even start me on food waste...it is criminal

Good for them. Makes me feel less guilty for stealing groceries

That's a lot of toilet paper

Funny that, regular people struggle billionaires and huge corporations make a killing.. almost like it’s been planned that way

Amazing! It was the one place covid dared not tread.........the big food chain store.

So jack up price of unreliable PCR test was illegal, but jack up price of foods was and still is legal, got it Albo

The board and CEO have little choice but to keep ripping off customers, suppliers and workers to preserve their own jobs.

hmmm.. just like fuel companies posting record profits during the Ukraine war? I think the term for this is 'gouging'..

Now I know why it gets dearer every time I shop there. Wot supply chain issues, wot Ukrainian problem, where is the raw material such as veggies and meat supply issues.😁

How much did these companies get in job keeper

Of course they did. Shopping was banned everywhere else

Shop elsewhere.

Check out Saturdays farmers market!

they doubled the price on most staples. gougers

This is obscene!!!!! Pay your employees more!

Frewville Foodland is the world's best supermarket from Adelaide! Extraordinary cheese products!!! 💑🍜😍💚💃💃👍

Yep! Of course! When their supermarkets are selling lamb French cutlets(mostly fat and bone) at $43 a kilo, it’s easy to make a profit of $billions pa.

Disgusting when grocery prices are soaring.

And still rorting the Farmers.

A few products were in short supply,so put the price up,, no wait put all the prices up

Which proves a lot of price increase on goods went directly to Woolworths, price gouging at its finest

The pretence at lowering prices is clearly long over at Woolworths!!

Make Coles and Woolworth international standards supermarket!!! Look at some luxury Korean and Japanese supermarkets in Asia!! Lots of Rubbish food and sugars on your shelves mate.

Of course they did. Monopoly 😏

Do it

Yet shelves are empty, boxes litter aisles, dumpsters outside overflow and stink...all whilst raising their prices. Used to shop Woolworths... ...no more. Coles gets my business now. Them and Aldi. Much better.

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