South Africa’s Woolworths records first H1 profit rise in five years

PUBLISHED: Thu, 25 Feb 2021 05:13:20 GMT

JOHANNESBURG, Feb 25 (Reuters) – South African retailer Woolworths Holdings Ltd reported a 58.3% jump in half-year profit on Thursday, its first in five years, as sales recovered from the trough of the COVID-19 pandemic.

Woolworths, which sells clothes, food and homeware, said headline earnings per share (HEPS) — the main gauge of profit in South Africa — surged to 261.1 cents in the 26 weeks to Dec. 27 from 164.9 cents a year earlier.

Meanwhile, adjusted diluted HEPS, which strips out certain items, rose by 19.4%. (Reporting by Nqobile Dludla; Editing by Jacqueline Wong)

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