Woolworths Limited (ASX:WOW) has announced a 24 per cent increase in full year net profit to $2.26 billion

Woolworths Limited (ASX:WOW) has announced a 24 per cent increase in full year net profit to $2.26 billion. In the year ending June 30, total group sales rose by 4.3% to $59.2 billion, at the same time total group revenue rose to $58.6 billion. The Australian Food, Liquor and Petrol business made a solid contribution to the result with earnings before interest and tax (EBIT) rising by 8.7%. The mainstay however, continued to be the Hotels segment which saw an increase of more than 34.7% in EBIT. Woolies says it expects caution to remain a feature of consumer behaviour. Even with the cautious view, the group is confident of growing its profit by a range of between four and seven per cent in the next 12 months. The group will pay a fully-franked final dividend of 71 cents to shareholders on the register at September 13. Visit investing.commsec.com.au/reportingseason