Wesfarmers’ Managing Director Rob Scott said it was pleasing to deliver a strong financial performance, particularly from Wesfarmers’ largest divisions who responded well to market conditions.
Wesfarmers announced the full-year results, with net profit after tax of $2.5 billion, up 4.8 per cent, and a final dividend of $1.03 per share.
Wesfarmers’ profit and dividend growth for the year was underpinned by strong divisional earnings growth of 12.9 per cent, with record earnings in Bunnings, Kmart Group and WesCEF – Wesfarmers’ three largest divisions.
WesCEF achieved an 8.7 per cent increase in revenue over the period to $3,306 million, and earnings before tax (EBT) was $669 million, up 23.9 per cent on the previous year.
This growth in revenue and earnings was driven primarily by favourable global Ammonia prices and strong plant performance.