Woolworths Group Ltd (ASX:WOW)

A$ 31.65 -0.2 (-0.63%) Market Cap: 38.66 Bil Enterprise Value: 53.01 Bil PE Ratio: 2,637.50 PB Ratio: 7.58 GF Score: 74/100

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Woolworths Group Ltd Market Update Call Transcript

Mar 31, 2019 / 11:30PM GMT

Transcript

Operator

Thank you for standing by, and welcome to the Woolworths Group market update conference. (Operator Instructions) I would now like to hand the conference over to Mr. Brad Banducci, CEO. Please go ahead.

Bradford Leon Banducci

Woolworths Group Limited - MD, CEO & Executive Director

Good morning, everyone, and thank you for joining us on the call today. Our apologies for starting a few minutes later, just want to make sure that everyone had enough time to get on the call given the short notice period.

Joining me in the room today are our Chief Financial Officer, David Marr; Group Portfolio Director, Colin Storrie; and the Managing Director of BIG W, David Walker. I will begin with a few brief points from the announcement before handing over to questions and answers.

Today, we announced the successful completion of the sale of our Petrol business to EG Group, with the proceeds from the sale to be returned to our shareholders via a $1.7 billion off-market buyback. I would like to take this opportunity to thank the entire Petrol team, and

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