mennell the Food and liquor only grew at 1.1% thats a negative real returnand remember that is the driver of profit .... The total supermarket division number of 5.6% was bumped up by the price off petrol $1.24 hy 2011 to $1.40 hy 2012. be cautious of deflation (mainly by wow own promotions) to compete with coles etc.
Growing like this they will have to start agressivly cost cutting starting with ds to maintain one of the highest profit margins for a publicly listed grocer.
Who knows next year could be no growth....
solid first half, page-5
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