Department store operator Woolworths posted results for the year to June and said that consolidated turnover rose 5.5% to R21.18bn (£1.6bn). During the same period, operating profit fell 18.1% to R1.64bn (£124m).

Reduced profits from discounted food ranges were offset by improved clothing and general merchandise margins, which came as a result of “focused sourcing and good stock management”, with “well controlled” costs also helping, according to Woolworths.

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