Wesfarmers 1H Profit Rises 3%, Boosted by Retail -- Update [MarketWatch]
WESFARMERS LTD UNSP/ADR (WFAFY)
NASDAQ:AMEX Investor Relations:
wesfarmers.com.au/investor-centre
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Source: MarketWatch
The company, which runs retail chains like hardware store Bunnings and discount chain Kmart and has fertilizer, lithium and healthcare businesses, said its net profit for the six months through December was 1.425 billion Australian dollars (US$930 million). That's slightly ahead of market expectations for A$1.398 billion, as assessed by FactSet. Advertisement Revenue rose by 0.5% to A$22.67 billion. That compares to market expectations for A$22.79 billion, according to FactSet. The rise was driven by Kmart, where revenue rose by 4.8%, and Bunnings, where revenue grew by 1.7%, and offset by the chemicals, energy and fertilizer unit, where revenue fell by 21%. Wesfarmers said it would pay an interim dividend of 91 cents a share, up from 88 cents a year ago. Wesfarmers didn't provide specific earnings guidance, but said its retail performance remains positive. It said in the first five weeks of the fiscal second half, Kmart continued to deliver strong sales growth, and that Bunn
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