Australia's largest listed conglomerate Wesfarmers Limited (WES)reported its full year numbers today

Online Stockbroker
Australia's largest listed conglomerate Wesfarmers Limited (WES)reported its full year numbers today. Wesfarmers posted a better than expected NPAT of $2.26Billion and its cash flow and balance sheet were solid. Coles, Kmart and Officeworks in the retail sector listed strong returns. While the retailer Target's performance was still below market expectations with comparable sales in the last quarter showing continued weakness (down 9.8%). Target has been working hard selling down excess inventories but this caused its FY margins to fall to 3.7% compared to 6.5% in 2012. Bunnings is well positioned to continue strong sales. WES surprised the market announcing a capital return of $0.50 per share (subject to final ruling by ATO & shareholder approval) and shareholders will also receive a 2H dividend of $1.03 payable on 27th Sept. 2013. Watch here: (VIEW LINK)

CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...
Expertise
No areas of expertise

CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...
Expertise
No areas of expertise