Woolworths lifts profit nearly 25 per cent Lana Norris, 24, shopping at Woolworths Macarthur Central. Pic: Adam Smith Source: News Limited WOOLWORTHS hopes consumers will open their wallets when the federal election is out of the way. " (But) we won't really know until such time as this election is out of the way as to the true effect it has had on consumers," Woolworth boss Grant O'Brien said today. Woolworths expects to lift its net profit between four and seven per cent this financial year, below the 10 per cent year on year profit growth the company hopes to return to in the future. The company made a net profit of $2.35 billion from its continuing operations in the 2012/13 financial year, up six per cent on the previous year in normalised terms. Statutory net profit was $2.26 billion for 2012/13 financial year, up from $1.82 billion the previous year. The 20112/13 financial year result included an extra trading week relative to the previous year. Mr O'Brien said all of the company's established operations recorded strong earnings growth during the year. It's Big W business lifted its pre-tax earnings seven per cent to $191 million while Woolworths' hotels division recorded a 35 per cent rise in earnings to $264 million.