SYDNEY, Aug 28 (Reuters) - Australian supermarket chain Woolworths Ltd WOW.AX reported a 12.5 percent fall in full-year net profit on Friday, its first drop in at least 19 years amid tough competition and falling market share.
Woolworths also announced chairman Ralph Waters is stepping down, following chief executive Grant O'Brien out the door.
Woolworths said net profit for the year ended June 28 was A$2.15 billion ($1.54 billion), down from A$2.45 billion a year ago. The result was in line with the profit warning issued by the 91-year-old company in June when it announced O'Brien's departure. ID:nL3N0Z25K8
Revenue was flat at A$61.15 billion. The company spent A$270 million on one-off costs associated with a restructuring. ID:nL4N0W06P5 ($1 = 1.3945 Australian dollars)