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South African Retailer Woolworths’ Annual Profits Surge 212%

Woolworths Holdings store in Cape Town, South Africa. Getty Images. (Bloomberg)

Zoe Suen

26 August 2021

Woolworths, which owns Australian department store David Jones, has resumed dividend payouts after a 212.5 percent boost in its annual profit signalled its recovery from the Covid-19 pandemic, Reuters reports.

The retailer declared a final dividend of 66 cents per share, a 25.8 percent drop from last year’s figure. Sales of fashion, beauty and home goods rose 3.5 percent and gained momentum in the second half of the year.

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Fashion Sales Down 11% at South African Retailer Woolworths

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