Wesfarmers full year profit drops 58% to $1.97b

Company News

by Anna Napoli

Wesfarmers (ASX:WES) has reported its net profit after tax (NPAT) fell about 58.3 per cent on FY17 to $1.197 billion for the 2018 financial year.

Its revenue strengthened over the 2018 financial year, and lifted almost 3 per cent on FY17 to $66.9 billion.

Its earnings before interest and tax (EBIT) increased 4.5 per cent on the prior year, to $4.37 billion.

The company declared a fully franked final dividend of $1.20 per share.

The Perth based conglomerate says the reported profit includes a loss from discontinued operations of around $1.4 billion which reflects the trading results and significant items for Bunnings UK and Ireland.

Shares in Wesfarmers (ASX:WES) closed 0.6 per cent higher to $50.59 yesterday.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.