Woolworths (ASX:WOW) profits to fall despite sales growth
Woolworths (ASX:WOW) released a trading update today showing expected earnings before interest and tax to fall between between $3.2 billion and $3.25 billion.
Financial year 2020 expected pre-tax significant items of $591 million compared to the second half of $460 million.
There are plans to develop two new automated distribution centres at Moorebank in NSW.
Construction is expected to be completed by the end of calendar 2023 with initial benefits expected to be realised in financial year 2025.
Shares in Woolworths (ASX:WOW) are trading 0.14 per cent lower at $36.61.
Copyright 2020 – Finance News Network
Source: Finance News Network
