August 19, 2018 / 10:31 PM / 3 months ago

Australia's Woolworths annual profit up 13 pct as price cuts lure buyers

Aug 20 (Reuters) - Australia’s Woolworths Ltd said on Monday that full-year underlying profit rose 12.9 percent as massive price cuts attracted more shoppers to its stores.

The country’s biggest grocery store chain reported an underlying net profit, which excludes one-offs, of A$1.61 billion ($1.18 billion) for the year to June, compared with A$1.42 billion a year ago.

Woolworths declared a final dividend of 50 Australian cents per share, the same as last year. It also declared a 2018 special dividend of 10 Australian cents a share. ($1 = 1.3669 Australian dollars) (Reporting by Rushil Dutta in Bengaluru; Editing by Peter Cooney)

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