Australia's largest supermarket chain Woolworths reports 5.1% rise in earnings in year ending June 26; company earned AU$2.12B as revenue grew 4.9% to AU$54.51B amid 'challenging' environment of tight consumer spending, natural disasters

Cindy Allen

LOS ANGELES , August 29, 2011 (Industry Intelligence) – Woolworths Ltd., Australia's largest supermarket chain, said its earnings grew 5.1% to AU$2.12 billion in the fiscal year that ended June 26, MarketWatch reported Aug. 24. Analysts polled by Dow Jones Newswires had expected earnings of AU$2.14 billion.

Revenue grew 4.9% to AU$54.51 billion in an environment described by CEO Michael Luscombe as "particularly challenging" in light of tight consumer spending and natural disasters.

The primary source of this article is MarketWatch, San Francisco, California, on Aug. 24, 2011.

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