Wesfarmers: Interim result 2014

Another strong performance from Coles was behind a solid half-year result from the Western Australian conglomerate.

Wesfarmers has reported an solid result for the half-year to 31 December, with revenue up 4% to $31.9bn, underlying earnings before interest and tax (EBIT) up 3% to $2.1bn and net profit up 11% to $1.4bn, boosted by a lower interest bill and a profit on the sale of Air Liquide WA.

Earnings per share rose 12% to $1.24 and the interim dividend per share was increased by 10% to 85 cents (fully franked, ex date 24 Feb). On a historic basis, that puts the stock on a fully franked dividend yield of 4.4%.

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