Wesfarmers says outlook ‘optimistic’

 In Australia, Coles, NewZealand
Wesfarmers says it is "generally optimistic in its outlook" and its flagship retail arm is well positioned, as its half-year retail earnings grow while coal, chemicals and fertilisers earnings slide.
After surging to multiyear highs on Wednesday, shares in Wednesday fell by 1.9 per cent in early trade to $45.03 on news it reported a December-half net profit fall of 3.7 per cent to $1.376 billion, in line with market forecasts.
But net profit from continuing operations rose by 8.3 per cent and total revenue grew by 0.4 per cent to $31.97 billion. Group earnings before interest and tax rose by 5.9 per cent to $2.1 billion.
The Western Australian company owns retailers – supermarket Coles, hardware chain Bunnings, office supply business Officeworks, and discounters Kmart and Target – plus businesses in resources, chemicals, energy and fertiliers, and industrial safety.  Sydney Morning Herald – Read more…

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