Woolworths lifts FY profit

Reatiler says ongoing consumer caution to keep retail conditions subdued in year ahead, eyes 4-7% profit growth in FY14.

Woolworths (WOW) expects ongoing consumer caution to keep retail conditions subdued in the year ahead, but is confident of growing its profit by between four and seven per cent after a solid lift in fiscal 2013.

In the year to June 30, Woolworths posted a net profit of $2.26 billion, a 24.4% increase on the $1.82 billion recorded in 2012.

In the same period total revenue was $59.6 billion, a 4.4�nt boost on the previous year.

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