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CORRECTED-South Africa's Woolworths says annual profit hit by weak consumer confidence
August 24, 2017 / 5:28 AM / a month ago

CORRECTED-South Africa's Woolworths says annual profit hit by weak consumer confidence

(Corrects cents to percent in second paragraph)

JOHANNESBURG, Aug 24 (Reuters) - South Africa’s Woolworths Holdings Ltd posted its first annual profit decline since 2009 on tough trading conditions at home and in Australia, the upmarket retailer said on Thursday.

Woolworths, which sells groceries, food and homeware, said headline earnings per share - the main gauge of profit in South Africa - fell 7.6 percent to 421 cents in the year to June compared to a year ago.

A Reuters poll of 12 analysts forecast a 6 percent drop.

Reporting by Zandi Shabalala; Editing by Sunil Nair

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