Multi-format Australian retailer Woolworths is expecting a strong Christmas trading period.

Chief executive Michael Luscombe said business is “going along quite nicely”. The retailer revealed that net profit could exceed the Aus$2bn (£1bn) mark this financial year and it is still on the lookout for investment opportunities.

For its 2010 financial year, Woolworths expects net profit to grow 8% to 10%.

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