Coles FY profit down 9.1% to $1.43 billion

Company News

by Rachael Jones

Coles (ASX:COL) full-year net profit for the period dropped 9.1 per cent to $1.43 billion.

Earnings before interest and tax (EBIT) is down 0.9 per cent to $1.46 billion.

Total revenue for the 12 months to June 30 was down 1.7 per cent to $38.4 billion.

Net profit before tax for the year includes a provision expense of $145.8 million relating to redundancies and lease exit costs for existing distribution centres that will be closed.

Since the reporting date the directors have determined to pay a total dividend of 35.5 cents per fully paid ordinary share.

Shares in Coles (ASX:COL) are trading 3.93 per cent higher at $13.76

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