Woolworth's Masters losses to balloon to $157 million

Woolworths lifts FY profit guidance across overall operations, says targets for home improvement JV were 'overly optimistic'.

Losses for Woolworths Ltd's troubled home improvement joint venture Masters will balloon beyond the retailer's previous guidance to hit $157 million for the 2012-13 financial year but the group insists the result will not sink further into the red for the current year. 

However, the loss would have no bearing on the retail giant's net profit for the year to June, with the group slightly upgrading the bottom end of its full-year guidance range to 5% growth.   


{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles