Woolworths share price higher despite half-year profit decline and dividend cut
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The Woolworths Group Ltd (ASX: WOW) share price is on the move on Wednesday.
In morning trade, the supermarket giant’s shares are up almost 1% to $31.80.
This follows the release of the company’s highly anticipated half year results.
Woolworths share price higher on half year results
- Sales up 3.7% to $35.9 billion
- EBIT down 14.2% to $1.45 billion
- Net profit after tax down 20.6% to $739 million
- Fully franked interim dividend down 17% to 39 cents per share
What happened during the half?
For the six months ended 5 January, Woolworths reported a 3.7% increase in group sales to $35.9 billion.
This was driven by a combination of solid sales growth across the company and the acquisition of Petstock. Excluding this…
