SYDNEY, Australia (FNS) -- The Woolworths supermarket chain based here is on course to meet profit and sales expectations for the current fiscal year, according to Roger Corbett, chief executive officer.
per share and dividend growth of over 10 percent, he said.
Corbett noted that this year Easter falls in the fourth quarter, which affects third quarter comparative sales by about 1 to 1.25%.
While sales were in line with expectations in the quarter, there were some disparities depending on the region, according to Naum Onikul, chief general manager, supermarket operations.
Comparable store sales were up 4.5% for the year to date. Sales growth in New South Wales and South Australia improved, while sales results in Victoria slowed. Queensland and Western Australia sales growth was marginally slower, he said.
Bill Wavish, chief financial officer, said the chain's wholesale arm, AIW, "is still making good progress on its drive to profitability. Slower third quarter sales growth reflects the exit of unprofitable export and some cigarette sales."
