Officeworks, Bunnings fuel Wesfarmers’ profit

A strong performance from Wesfarmers’ retail brands, including Officeworks, Bunnings and Coles, helped increase the conglomerate’s net profit by 1.2 per cent to $1.39 billion in the December half, offsetting a $158 million earnings slump in its industrials business and the ongoing drag of low commodity prices on the group.

n

Managing director Richard Goyder said Wesfarmers’ retail portfolio delivered a strong increase in earnings before interest and tax of $176 million, or 9.2 per cent, during the half, supported by solid Christmas trading across all the brands. Sydney Morning Herald – Read more…