Countdown boosts first-half earnings 2.9% amid cost cutting, higher volumes

Fri, 27 Feb 2015

By Tina Morrison Feb. 27 (BusinessDesk) - Countdown, the New Zealand supermarket chain owned by Australian retailer Woolworths, increased first-half earnings 2.9 percent as it cut costs and boosted volumes to compensate for lower prices. Earnings before interest and tax increased to $169.1 million in the half year ended Jan. 4, from $164.4 million in the year earlier period, the Sydney-based retailer said in a statement. Revenue rose 1.1 percent to $3.05 billion. Countdown started its 'price lockdown' and 'price drop' marketing campaig...

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