Retail giant Woolworths grew sales by 4.3 per cent to more than $59 billion last financial year.
The company sold $59.2 billion worth of goods in the 2012/13 financial year, with each of its divisions recording a rise in sales.
Sales in Woolworths’ supermarkets grew by 5.9 per cent from the previous year to $51.4 billion.
Big W’s sales rose by 4.9 per cent to $4.4 billion, and the company’s home improvement arm recorded a near 50 per cent rise in sales to $1.2 billion as it rolls out its Masters hardware stores.
Sales were up 22 per cent in Woolworths’ hotels division to $1.5 billion.
Woolworths’ 2012/13 financial year ran to 53 weeks, up from the standard 52.
When adjusted for the additional week, Woolworths’ sales were up 2.4 per cent from the previous year.
Chief executive Grant O’Brien said the full year result was pleasing considering the difficult retail environment.
“We have achieved solid full year sales growth, which is particularly pleasing when measured against challenging retail conditions and an economic environment underpinned by consumer uncertainty and low growth in disposable income,” he said in a statement.
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Woolworths increased its market share and sales volumes during the year, while online sales were up 42 per cent, Mr O’Brien said.
Development work across the company over the past 18 months meant the outlook was good for Woolworths in the 2013/14 financial year.
“While there is more to do, this work has put us in a good position as we enter the 2014 financial year and beyond,” he said.
Woolworths shares were down 71 cents, or 2.1 per cent, at $33.06 in early trade.
