Woolworths Reports Profit Jump Amid ACCC Legal Action Over Discounts

Woolworths announced a 16% increase in profits, reaching $859 million, while facing impending legal action from the ACCC regarding alleged 'illusory' discounts.

25 Feb, 00:45 — 25 Feb, 00:45

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The Guardian8d ago

Woolworths reports 16% jump in profits as ACCC prepares legal action over ‘illusory’ discounts

Earnings report released on Wednesday shows supermarket made $859m net profit in past six months as higher prices hit shoppers Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Woolworths has reported a significant 16.4% rise in profit, helped by expanding its margins in its key supermarket business. In its half-year earnings report released on Wednesday, Woolworths recorded an increase in underlying net profit to $859m over ...

By Catie McLeod Consumer affairs reporter

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Woolworths Reports Profit Jump Amid ACCC Legal Action Over Discounts

Read at source (1 outlet)

Woolworths reports 16% jump in profits as ACCC prepares legal action over ‘illusory’ discounts

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