Wesfarmers Limited
(ASX:WES) says capital expenditure for the current financial year will be between $1.5 and $1.7 billion.
At the company’s strategy briefing, Chairman Richard Goyder pointed to continued earnings growth for most of its businesses.
Mr. Goyder says Wesfarmers will continue to invest in value, service, store network and productivity initiatives.
But he says low export coal prices and the high Australian dollar would continue to provide headwinds against its coal business.
It comes after Mr Goyder said yesterday the conglomerate is eyeing offshore acqusitions, marking a departure from its strategy of buying local assets.
Wesfarmers posted a $1.28 billion net profit in the first half of this fiscal year.
