Woolworths delivers mixed bag of results

JOHANNESBURG - Woolworths has delivered a mixed bag of results. 

Headline earnings per share rose by 9.6 percent for the six months that ended in December.

But the retailer says its profit margins remained under pressure.

Other retailers have also reported that they've had to absorb some cost increases to ensure they don't lose customers in a very competitive environment.

Food sales were up by 7 percent.

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And online sales through Woolies Dash also soared to 23 percent.

Fashion, beauty and home grew by 6.2 percent.

But food shortages and tight margins mean that Woolworth's overall profit picture wasn't as strong as previously.

In Australia, the Country Road Group posted sales growth of just over 2 percent.

Woolworths says Australia’s prolonged discounting in a high-cost inflationary environment continues to exert pressure on the company.

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