Wesfarmers (ASX:WES) report net profit for the year is down 69%

Company News

by Rachael Jones

Wesfarmers (ASX:WES) report revenue growth of 10.5 per cent of $30.8 billion, reflecting strong sales growth in Bunnings, Kmart, Officeworks and Catch.

NPAT excluding significant items is up 8.2 per cent to $2.09 billion.

Net profit for the full-year is down 69.2 per cent to 1.697 billion from last year’s $5.51 billion.

Reported NPAT in prior year includes $3.57 billion from significant items and discontinued operations, primarily relating to the Coles demerger.

Final dividend of $0.77 per share; full-year dividends of $1.52 per share and a special Coles selldown dividend of $0.18 per share reflecting after-tax profits realised from sale of the 10.1 per cent interest.

Shares in Wesfarmers (ASX:WES) are trading 0.29 per cent higher at $49.02.