Sep 04, 2024 / NTS GMT
Roy Bagattini - Woolworths Holdings Ltd - Group Chief Executive Officer, Executive Director
Our 2024 financial year proved to be a lot more challenging than we'd expected, largely by virtue of the macro backdrop, which steadily worsened throughout the year across both our geographies, but particularly in Australia.
You've heard me say before that we don't like attributing our performance to the macro factors, but one way or another one cannot deny the broader environment has had a pronounced impact on our results for the period, particularly given the significant pressure we've seen on the consumer.
Against this tough backdrop, group sales were up over 4% for the year. As you'd expect, we've continued to focus on the high impact areas within our control, from inventory to GP margins, cost containment to driving cash conversion, and of course, executing against our strategies. But the tough trading environment was such that we've seen earnings down 12% of last year's record highs.
When we look at our overall South Africa and Africa business, we grew sales by almost 7% and total
Full Year 2024 Woolworths Holdings Ltd Earnings Call (Pre-Recorded) Transcript
Sep 04, 2024
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