WESTPAC BANKING CORPORATION (WBC)

Price19.430 (16/7/08 Close)
Change0.750
% Change4.015
Bid19.430
Ask19.450
Open18.870
Volume10,465,766
High19.450
Low18.870
52-Wk High31.320(11/01/07)
52-Wk Low18.360(07/15/08)
1-YrReturn-22.137

Shares(Millions)1,894.286
Market Cap(Millions)36,805.980
Earnings1.869
Price/Earnings8.987
RelativeP/E0.700
ROE22.920
Last DividendReported0.700 Interim
Dividend Yield(Trailing 12mo.)10.146
Rel. DividendYield2.016
90-DayVolatility43.407
Betavs. AS511.017

(Source: Bloomberg)

Woolies shares jump on Big W sales

AUSTRALIA'S largest retailer Woolworths reported a 7.5 per cent rise in total fourth-quarter sales, but sales in its key supermarkets and liquor division slowed as food inflation moderated.

Total sales, adjusted for the timing of Easter, rose to $11.4 billion for the three months to June 29 from $9.83 billion a year ago.

Like-for-like growth at its key Australian Food and Liquor division rose 4.9 per cent for the quarter, slowing from 6.7 per cent growth in the third quarter. The growth rate was below analysts' expectations of around 5.9 per cent, but appeared mainly due to a sharp decline in food prices.

Inflation during the quarter declined to 2.9 per cent from 4.5 per cent in the third quarter, due to significant deflation in fruit and vegetables, Woolworths said.

By late morning, Woolworths shares were up 74 cents, or 3.15 per cent, at $24.20, against a 0.1 per cent rise in the benchmark S&P/ASX 200 index.

Fourth-quarter sales at Big W rose 2.6 per cent on a like-for-like basis. Analysts had forecast 1.7 per cent growth, according to the average of three brokers surveyed.

Several retailers, including fashion retailer Just Group, have recently downgraded their earnings guidance due to the tougher economic conditions.

Woolworths' consumer electronics division, which includes the Dick Smith chain, posted a 3.8 per cent rise in like-for-like sales.

In New Zealand, where Woolworths owns the country's second-largest supermarket chain, like-for-like supermarket sales rose 3.5 per cent, which it said reflected the tighter macroeconomic environment.

Hotel sales in the fourth quarter fell by 1.6 per cent on a comparable basis, which Woolworths said was due to the effects of smoking bans together with tighter trading conditions. Gaming sales decreased by 2.6 per cent in the quarter.

(Source: The Australian, Business)