Business
ASX narrowly ahead as banks sag; Afterpay above $95; Woolies climbs – The Sydney Morning Herald
The ASX 200 eked out narrow gains at Thursday’s open following fresh records on Wall Street overnight. Afterpay, Woolworths, Bega, and Mesoblast all rose.
However, those sales came at a cost, with Woolworths reporting a $275 million expense for measures such as additional in-store cleaning and security.
Other significant items affecting the company’s bottom line included $176 million in costs associated with the redundancy of 1350 workers in its NSW distribution centres, and $230 million in costs linked to Woolworths’ ongoing demerger of its Endeavour Drinks division.
Woolworths is currently in the midst of repaying thousands of employees nearly…
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