Woolworths has posted positive interim profits to beat Coles but is warning of subdued consumer sentiment.

Woolworths reported $979 million in interim profits, with sales up nearly 2.3% to over $30 billion.

Despite the strong results the company’s chief executive Brad Banducci tells Ross Greenwood “it was a challenging half and we called it out in the headline”.

“What was pleasing was record customer scores… good transaction and traffic growth…

“And good sales growth backed up by market share growth across the board.

“But the overall profit performance wasn’t in line with the expectations we had,” says Mr Banducci .

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