Woolworths Group net profit after tax Australia FY 2015-2023

In the 2023 financial year, the Woolworths Group in Australia recognized a total net profit after tax of 1.72 billion Australian dollars. This represented an increase from the previous year, in which an NPAT of just over 1.5 billion Australian dollars was recorded. The highest NPAT recorded within the given period was in 2015.

Woolworths Group in Australia

Headquartered in Sydney, Australia, the Woolworths Group is Australia’s largest retail company and one of the country’s top 15 leading companies by market cap. The company holds the largest share of the grocery retail market in Australia, followed by supermarket rival the Coles Group. The Woolworths Group’s food sales witnessed a year-on-year increase from 2016 to 2023, with over 48 billion Australian dollars in sales in 2023.

Grocery shopping in Australia

As of 2022, Woolworths, Coles, and Aldi were the most popular supermarkets among Australian consumers. That same year, New South Wales was home to the highest number of operating supermarkets and grocery stores in Australia, followed by Victoria. Following year-on-year growth since 2004, the annual revenue of supermarkets and grocery stores climbed in 2022. Nonetheless, due to grocery price inflation, consumers are trying to cut back on grocery spending by changing to cheaper brands and shopping during sales. Grocery expenses were named as the most significant contributor to cost of living pressures among consumers across Australia.