Wesfarmers FY profit rises 11%
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AAP
2012-08-16
Wesfarmers has lifted its full year profit by 11 per cent, buoyed by a strong increase in earnings at its Coles supermarket chain.
The conglomerate's net profit rose to $2.1 billion in the year to June 30, from $1.90 billion in the previous corresponding period.
Total revenue rose to $58.1 billion, from $54.9 billion.
Coles lifted its earnings by 16.3 per cent to $1.3 billion.
Managing director Richard Goyder said the outlook for the group was positive, notwithstanding the expected continuation of subdued retail trading conditions and global economic uncertainty.
"The group has a strong portfolio of businesses and a healthy balance sheet providing a good outlook for growth, both from within the existing group and from potential business expansion opportunities," he said in a statement on Thursday.
