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.

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

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

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

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

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

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