Podcasts Other The Mike Hosking Breakfast Tex Edwards: Monopoly Watch Financial Analyst on Woolworths' 52% drop in profits

Tex Edwards: Monopoly Watch Financial Analyst on Woolworths' 52% drop in profits

Published: Dec. 5, 2023, 7:09 p.m.

Woolworths New Zealand's revelation of a 52% drop in profits is being labelled a 'PR fudge'. \xa0

The multi-national supermarket giant reported a $76 million profit for this year.\xa0

Monopoly Watch financial analyst Tex Edwards told Mike Hosking that this just means gross profits are up $76 million.\xa0

He says, essentially, there's an increase, not in operational costs, but in transfer of costs to Australia. \xa0

Edwards says Woolworths' profit margins are still approximately three times more than those of other supermarket companies internationally.\xa0

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