Big profits? C'mon LP, i'm sure the waste of time enquiry over price gouging came up with nothing except a 6c in the dollar profit on groceries, i myself wouldn't describe 6c in the dollar profit for woolies as a Big Profit or inflated prices. I think from memory coles had a slightly better margin around 8% or something, i would call these very thin profits rather than Big profits, Woolies has a few other revenue avenues other than groceries too which make a bigger % i think.
Grocery price inflation for the quarter at woolies was 1.4% according to the woolies update, that is below inflation according to the report, Coles grocery price inflation was 2.5% or there abouts, these increases aren't too bad considering they would have likely had rising electric prices and wages to cope with aswell.
Meat and vege prices seem to have helped the most with veges falling about 6% and meat 9% odd, however i doubt meat prices will continue the fall next quarter, not sure about the veges.
I think the whole attack on the supermarkets was just a mis-direction of who's to blame for all this inflation we've got, gov deflecting and pointing the finger...Look over there..type of tactic imo, the gov puts on a show for the Tv and newspapers to report on and people blame the supermarkets instead of our governments policies, supermarkets would have to have some of the thinest margins going imo.
Anyway Tim Tams were back at 2.50 at coles last week or it might be this week so thats good news.
That RCR keeps going up, surely it can't keep going at this pace without some drill results and i'm wondering when they are going to raise some cash for drilling, i was thinking some at 8c a few days back but got that completely wrong by the looks, maybe they are waiting for the copper assays which are due in May before doing a raise i'm really not sure.
