Wesfarmers Limited
(ASX:WES) has delivered full year net profit of $2.26 billion, up 6.3 per cent on last year’s result.
The result comes on the back of strong earnings growth at Coles, Bunnings and Kmart.
But Wesfarmers admitted Target’s earnings were disappointing, with earnings falling to $136 million from $244 million last year.
Earnings in the resources division came in at $148 million, down 66 per cent on year.
The group declared a fully franked final dividend of $1.03 per share, taking the full-year dividend to $1.80, up 9 per cent.
Wesfarmers also announced a capital return of 50 cents per share, amounting to $579 million.
