Wesfarmers has posted a statutory net profit after tax (NPAT) of $2.465 million for the full year ended June 30, an increase of 4.8 per cent on the prior year, slightly head of expectations for a 4.1 per cent rise.
The board has declared fully-franked final dividend of $1.03 per share, bringing total dividends for the year to $1.91 per share, an increase of 6.1 per cent on the prior year. The final dividend will be paid on October 5.
The WA-based conglomerate reported an 18.2 per cent surge in full year sales to $43.55 billion – head of market expectations – with strong earnings from its two key retail banners Bunnings and Kmart Group, and also boosted by its Chemicals, Energy unit, WesCEF.
Wesfarmers boss Rob Scott said the Group’s largest divisions performed particularly well during the year.
Mr Scott said the results for the year demonstrate the strength of the group’s operating model and the quality of the portfolio, which provides a unique mix of resilience and growth.
Group earnings before interest and tax rose 6.3 per ent to $3.863 billion, topping expectations.
Revenue excluding its new aquisition Wesfarmers Health, which includes Australian Pharmaceutical Industries the owner of Priceline Pharmacies, was up 7.4 per cent to $38.238 billion.
Bunnings sales gained 4.4 per cent to $18.539 billion ahead of what market as expecting for a 3.7 per cent suprted by a rise consumer and commercial customer segments. Earnings rose 1.2 per cent to $2.23 billion. Sales in the second half slowed to be up 2.4 per cent.
Kmart Group, which also includes discount chian Target, posted sales of $10.635 billion, with sales jumping 16.5 per cent. Earnings of $769 million were 52.3 per cent above the prior year and a record for the business.
WesCEF unit posted sales of $3.306 billion, an 8.7 per cent gain with earnings up strongly double digits, boosted by global ammonia prices.