'Structured' return to normality needed in Victoria, says Woolworths boss | domp
Woolworths boss Brad Banducci has called for a structured, step-by-step approach to ending the stage four restrictions in Victoria after the state government's regulations created chaos for supermarkets in early August.
"It was a very challenging couple of weeks for us all," Mr Banducci said. "It's nice to [now] be in a world where the rules are clear.""In terms of what happens next, we hope there is a very structured, step-based approach to getting back to normality." Adjusted earnings before interest and tax and excluding significant items slipped 0.4 per cent to $3.22 billion, partially thanks to Woolworths' ALH hotels divisions, which saw earnings fall 51 per cent to $172 million, as trading was sharply affected by the shutdown of pubs across the country.Woolworths' key supermarkets division upped its revenue 6.3 per cent to $42.
The retailer declared a final dividend of 48 cents per share, payable on October 6, a 15.8 per cent drop on the final dividend paid last year. Despite the sizable acquisition, Mr Banducci said shareholders shouldn't expect a larger dividend for the 2021 financial year, expecting PFD to not drive earnings "one way or the other".
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