S.Africa's Woolworths annual profit tumbles 65% on COVID-19 lockdown impact

  • Reuters
S.Africa's Woolworths annual profit tumbles 65% on COVID-19 lockdown impact

JOHANNESBURG, Sept 17 (Reuters) - South African retailer Woolworths (ASX: WOW ) Holdings Ltd WHLJ.J on Thursday reported a 65.1% slump in earnings for the 52 weeks to June 28, as sales dropped after it shut most shops in the second half of its financial year due to the coronavirus lockdown.

Woolworths said its headline earnings per share (HEPS) - the main profit measure in South Africa- fell to 119.8 cents compared to the 342.9 cents it reported a year earlier.

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