South African retailer Woolworths said on Wednesday it expects its full-year earnings to rise by up to 55 percent, helped by recovering demand in Africa's biggest economy.
Woolworths, which sells upscale food and clothing, said it expects to report a rise of between 45 and 55 percent in headline earnings per share for the year to end-June.Headline EPS totalled 109.3 cents in the previous year.
Headline EPS, the main gauge of profit in South Africa, excludes certain one-time items.
Group sales for the year rose by 10.5 percent, while comparable store sales rose by 5.7 percent.
South Africa's retailers are returning to growth after the economy exited a recession last year, while lower interest rates have eased some strain on consumers.
However, analysts remained cautious due to high consumer debt and unemployment.
Shares of Woolworths, which have gained about 40 percent so far this year, were up 0.8 percent at 0804 GMT, underperforming a 1.3 percent rise in the All-Share index.
