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Woolworths forecasts 8-11% profit growth in FY10

Woolworths forecasts 8-11% profit growth in FY10

Woolworths (ASX:WOW) today affirmed its guidance of post-tax profit growth of 8-11%, based on “upper-single digit” sales growth.

The company reported a $1.8 billion profit in FY09, exceeding its financial targets.

But CEO Michael Luscombe told investors that while the retailer has started FY10 optimistically, “there are still a number of uncertainties facing the economy, such as rising interest rates.”

WOW shares have risen around $3.00 in the past six months, and are currently trading at $28.30.

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Tags retailwoolworthseconomic outlook

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