	australia s woolworths looks to improved profits woolworths ltd wlwa s said policy management and financial changes initiated during the business year should cause profits to reach more acceptable levels in end february net profit reported earlier fell pct in the year ended february results for the first month of the new year were encouraging after a period of uncertain consumer confidence and difficult trading conditions it said in a statement the big w discount store division and new south wales supermarkets produced very disappointing results it added woolworths earlier reported a fall in net profit to mln from mln on sales of billion against billion capital spending for the year was mln dlrs against mln for the previous year with new stores opened but total sales were below target woolworths said the company provided mln dlrs against operating profit for the year to cover mark downs on stock extraordinary items included a mln dlr profit on the sale of properties and investments less a mln provision for reorganising the big w chain woolworths is unrelated to the u s group f w woolworth z n it has been the subject of takeover speculation since industrial equity ltd acquired a pct stake last year new zealand s diversified investment group rainbow corp ltd bought safeway stores inc s sa pct holding in woolworths for mln dlrs late last year safeway put its stake up for tender just in time to take advantage of changes in u s tax laws effective from the end of december informed sources said woolworths shares closed on australian stock exchanges today at dlrs down five cents from friday reuter 
