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 the six months to 4 January, up from $739m in the prior corresponding period. Australia’s largest supermarket chain significantly expanded its profit margins during a period of reigniting inflation, with groceries and other household costs rising strongly again in the second half of last year. The company’s results come ahead of a planned legal case brought by the consumer regulator against Woolworths.
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