Wesfarmers: Result 2015

Wesfarmers’ result was all about Coles and Bunnings (again). But there are signs Richard Goyder wants to re-balance the portfolio.

You know you’re dealing with a massive company when a division that earned a record operating profit of $118m – Officeworks – is barely worth mentioning. Coles and Bunnings, Wesfarmers’ two largest divisions, now account for almost $2.9bn of earnings, or 74% of the company’s total (up from 72% at the interim result).

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