this post was submitted on 23 Aug 2023
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Turnover is up, profit down, by the sound of it.
The article says what this years NZ profit is, and then says what the Woolworths Australia total profit change is (an increase). It doesn't give us the information to calculate whether NZ profit is up or down. I guess the profit change is the 21% down but it's pretty sloppy article writing to not include your claim in the article.
About on par for Stuff, in other words.
I wonder if some of those cost increases are boosting the Australian parent's revenues? I've seen some house branded stuff go up in price significantly compared to competing products.
Almost certainly, although revenue does not mean profit.