Load-shedding cost the high-end food and clothes retailer about R15m a month in adjusted operating profit
The effect of load-shedding cost high-end food and clothes retailer Woolworths shaved off about R90m in profit, with the company warning that profit growth might slow in the future, despite recent strong results.
The company, valued at R77.79bn on the JSE, said the power cuts and persistent problems at state-owned power utility Eskom cost it about R15m in adjusted operating profit a month in the 26 weeks to end-December 25...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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