Chris Wilkinson: First Retail managing director on Woolworths NZ reporting a 52 percent profit drop

There's growing evidence Kiwi supermarkets may not be drawing in as much profit as expected.

Woolworths New Zealand’s profits have dropped 52 percent in the last full year- down to $76 million from over $158 million.

First Retail managing director Chris Wilkinson says this is proof customers aren't being fleeced at the checkout.

"There is a limit to what consumers will pay. Retailers have to try and get that balance right, and this is a really good example of what's happening across the sector."

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