Woolworths sales increase in first quarter: Midday roundup
Woolworths sales increased 3.2% in the first half of the financial year, the company announced this morning.
The increase was mostly due to a 3.7% increase in sales from the supermarket division, while food and liquor sales grew by 4.7% to $20.488 billion. However, total petrol sales fell by 1.2% to $3.434 billion.
In a statement, Woolworths chief executive Grant O'Brien said the sales result was solid and it reflected a more focused effort on behalf of the business.
"The growth our businesses are achieving while pursuing a transformational path for Woolworths is pleasing," he said.
"However, there is still a great deal more to do."
The business also mentioned online sales increased by 40%.
Shares down on weak US lead
Australian shares fell this morning with the S&P/ASX 200 benchmark down 15.9 points at 11:55 AEST to 4880.8. The drop comes after the Dow Jones lost 0.32% overnight with the industrial average sitting on 13,910.42.
Facebook records profit drop, but mobile ads up
Facebook has recorded a drop in profit compared to the same time a year ago, causing analysts to question the company's current strategy.
The business announced a profit of $US64 million in the fourth quarter, compared with $US302 million in the same period in 2011. Revenue grew 40% to $US1.585 billion.
The company's shares fell 5% after the announcement, although Facebook did announced mobile ad revenue has increased to 23% of the total ad sales, as opposed to 14% in the previous quarter.