Interim Financial Report



ASX RELEASE

26 February 2016


HALF YEAR FINANCIAL REPORT OF WOOLWORTHS LIMITED (ASX: WOW) FOR THE HALF YEAR ENDED 3 JANUARY 2016


This Half Year Financial Report is provided to the Australian Securities Exchange (ASX) under ASX Listing Rule 4.2A.3 and should be read in conjunction with the 2015 Annual Financial Report and any announcements made to the market during the period.


Current Reporting Period: Half year ended 3 January 2016 (27 weeks) Previous Corresponding Period: Half year ended 4 January 2015 (27 weeks)




HALF YEAR FINANCIAL REPORT OF WOOLWORTHS LIMITED FOR THE HALF YEAR ENDED 3 JANUARY 2016


TABLE OF CONTENTS

Results for Announcement to the Market for the Half Year Ended 3 January 2016 3

Directors' Report 6

Auditor's Independence Declaration 7

Independent Auditor's Review Report 8

Directors' Declaration 10

Condensed Consolidated Statement of Profit or Loss for the Half Year Ended 3 January 2016 11

Condensed Consolidated Statement of Other Comprehensive Income for the Half Year Ended 3 January 2016 12

Condensed Consolidated Statement of Financial Position as at 3 January 2016 13

Condensed Consolidated Statement of Changes in Equity for the Half Year Ended 3 January 2016 14

Condensed Consolidated Statement of Cash Flows for the Half Year Ended 3 January 2016 15

Notes to the Condensed Consolidated Financial Statements for the Half Year Ended 3 January 2016 16

  1. Reporting Entity 16

  2. Statement of Compliance 16

  3. Basis of Preparation 16

  4. Individually Significant Items 17

  5. Business Acquisitions 19

  6. Segment Information 19

  7. Dividends Paid 21

  8. Issued Capital 21

  9. Financial Instruments 22

  10. Contingent Liabilities 25

  11. Capital Expenditure Commitments 25

  12. Subsequent Events 25

RESULTS FOR ANNOUNCEMENT TO THE MARKET FOR THE HALF YEAR ENDED 3 JANUARY 2016


Revenue and Net Loss

Percentage Change

%


Amount

$m

Revenue from ordinary activities

down

1.4

to 32,219.1

Loss from ordinary activities after tax attributable to members

down

176.0

to (972.7)

Net loss attributable to members

down

176.0

to (972.7)


Brief Explanation of Revenue, Net Profit/(Loss) and Dividends (Distributions)


Refer to Press Release - Half Year Profit/(Loss) and Dividend Announcement for the 27 weeks ended 3 January 2016.


Details Relating to Dividends (Distributions)



2016 Financial Year

Amount per security

Franked amount per security

Interim dividend

44¢

44¢

Record date for determining entitlement to the interim dividend:

4 March 2016


Date dividend payable/paid


Amount per security

¢

Interim dividend

2016

8 April 2016

44

2015

24 April 2015

67



3-Jan-16

¢ per share

4-Jan-15

¢ per share

Ordinary securities (fully franked at 30% tax rate)

44

67

Interim dividend (distribution) per security


Interim dividend (distribution) on all securities

3-Jan-16

$m

4-Jan-15

$m

Ordinary securities

559.21

846.3

1 Represents the anticipated dividend based on the shares on issue as at the date of this report. This value will change if shares are issued between the date of this report and the ex-dividend date.

RESULTS FOR ANNOUNCEMENT TO THE MARKET FOR THE HALF YEAR ENDED 3 JANUARY 2016


Details Relating to Dividends (Distributions) (continued)


Other disclosures in relation to dividends (distributions):


On 26 February 2016, the Board of Directors declared an interim dividend of 44 cents per share. The amount that is expected to be paid on 8 April 2016 will be approximately $559.2 million. No provision has been made in the Half Year Financial Report in line with the requirements of AASB 137 'Provisions, Contingent Liabilities and Contingent Assets'.


Dividend Reinvestment Plans

The Dividend Reinvestment Plan shown below is in operation.


Dividend Reinvestment Plan (DRP)

Under the terms and conditions of the DRP, eligible shareholders may elect to participate in the DRP in respect of all or part of their shareholding, subject to any maximum and/or minimum number of shares to participate in the DRP that the directors may specify. There is currently no minimum or maximum number of shares which a shareholder may designate as participating in the DRP.

In accordance with the DRP rules, the Directors have determined that a 1.5% discount will apply to the 2016 interim dividend. Therefore, shares allocated under the DRP for the 2016 interim dividend will be allocated at an amount equal to 98.5% of the average of the daily volume weighted average market price of ordinary shares of the Company traded on the ASX over the period of 10 trading days commencing on Tuesday 8 March 2016.


The last date for receipt of election notices for the Dividend Reinvestment Plan

7 March 2016


Net Tangible Assets Per Security


3-Jan-16

¢ per share

4-Jan-15

¢ per share

Net tangible assets per security

223.0

352.4

Add:

Brand names, liquor and gaming licences, customer relationships, distribution rights and property development rights per security


188.8


193.8

Net tangible assets per security adjusted for brand names, liquor and gaming licences, customer relationships, distribution rights and property development rights


411.8


546.2

Woolworths Ltd. issued this content on 26 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 March 2016 03:41:33 UTC

Original Document: http://www.woolworthslimited.com.au/page/Invest_In_Us/Investor_News/2016/HY16_Appendix_4D/