Woolworths reports 16% jump in profits as ACCC prepares legal action over ‘illusory’ discounts

Earnings report released on Wednesday shows supermarket made $859m net profit in past six months as higher prices hit shoppers

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Woolworths has reported a significant 16.4% rise in profit, helped by expanding its margins in its key supermarket business.

In its half-year earnings report released on Wednesday, Woolworths recorded an increase in underlying net profit to $859m over the six months to 4 January, up from $739m in the prior corresponding period.