Post Content follows this advert.
Woolworths, Australia’s biggest supermarket chain, has reported a record annual loss of $1.23 billion
However, Woolworths appears to have actually made a profit of $0.6bn, with the loss being created by the A$1.8bn write off from its decision to close its Masters hardware stores in December.
Woolworths has confirmed it will close all the stores of its failed home-improvement chain Masters in December.
In 2015 the company made $2.15 billion after tax in the 12 months to the end of June.