Wesfarmers: Result 2013

Wesfarmers has reported another strong result, with the businesses that matter doing well and the headaches confined to its smaller units.

Wesfarmers has reported a 6% rise in net profit to $2.3bn for the year to June, on a 3% rise in revenue to $59.8bn. Earnings per share rose 6% to $1.96 – slightly below the consensus forecast of $1.99 – and a fully franked final dividend of $1.03 (ex date 20 Aug) took the full-year payout to $1.80, up 9%.

Coles had another great year, increasing earnings before interest and tax (EBIT) by 13% to $1.53bn on sales that rose 5% to $35.8bn. The EBIT margin improved to 4.3% from 4.0% and return on capital rose from 8.7% to 9.5%.

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