Countdown lifts sales 4.3 per cent in FY19
Countdown reported a sales increase of 4.3 per cent to $6.7 billion over the 2019 financial year, according to Australian parent company Woolworths Group.
Sales growth in the second half was driven by positive transaction growth, as well as the recovery of the market post-Christmas, after challenging first half.
Earnings before interest and tax grew 3.9 per cent to $296 million, driven partially by improved online sales growth due to the CountdownX initiative – established in June of 2018.
“Digital momentum remained strong throughout the year, with FY19 sales growth of 40 per cent (normalised) driven by pick up, same day delivery, and capacity expansion,” Woolworths Group said.
“Customer advocacy for online also remains strong with [voice of consumer net promoter score] of 66 in Q4.”
Total group profit from continuing operations lifted 7.2 per cent to A$1.75 billion for the full year, while revenue grew 3.4 per cent to $59.98 billion.
The A$1.7 billion sale of its petrol business pushed group statutory profit to A$2.96 billion – a 56.1 per cent increase on the previous year.
Woolworths Group chief executive Brad Banducci said the group intended to continue differentiating its food offers from competitors, both in New Zealand and Australia.
“Customers increasingly want to make healthier choices and one of the ways to differentiate our food customer proposition is to make healthy easier for them,” Banducci said.
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