Wesfarmers (WES)

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Stock Exchange


Westfarmers Limited (WES) is a diversified industrial company engaged in the processing and distribution of gas, coal mining, building materials and home and garden improvement products retailing, general merchandise, supermarkets, fuel and liquor outlets, office and home improvement supplies, electricity generation, chemicals and fertilisers supply, insurance and distribution of safety products. WES was listed on the Australian Stock Exchange on the 15th of November 1984. Its average annual revenue reaches approximately $9 billion out of its issued capital of approximately $300,000.

Wesfarmers: First Half Net Profit $1.285 Billion

Australian conglomerate Wesfarmers (ASX:WES), who owns retailers like Coles, Kmart, Target and Bunnings, mines, chemical companies, and insurance released their first half profit results for FY2012-13.

  • Wesfarmers first half Net Profit was $1.285 billion, up 9.3 percent on the corresponding period.
  • Coles earnings (EBIT) is $755 million, up from $656 million.

Wesfarmers Retail Up: Coles, Bunnings, Kmart, Target Christmas 2012

Australian conglomerate, Wesfarmers (ASX:WES) have released its December quarter sales yesterday for its retail divisions Coles, Kmart, Bunnings and Target, recording 15 straight quarters of sales growth.

  • Coles: Total sales are up 4.9 percent (compared to previous corresponding period) to $18.3 billion for the first half of the financial year.
  • Bunnings: Sales at $4.0 billion up 5.7 percent compared to the 2011/2012 first half.

Wesfarmers Profit Results

Diversified industrial conglomerate, Wesfarmers (ASX:WES), have released their Full Year results. The company owns interests in retail, resources, insurance and chemicals assets.

  • Full year net profit increased 11 percent to $2.126 billion.
  • Wesfarmers revenue increased to $58 billion, rising 5.8 percent.
  • Growth spurred on by once struggling supermarket: Coles division.

Wesfarmers' Insurance Division Earnings Fall 74pc

Australian company Wesfarmers (WES) is expecting a 74 per cent fall in the first half earnings of its insurance division due to the natural disasters that hit Australia.

Wesfarmers Sells Premier Coal for $296.8M

Wesfarmers (ASX:WES) is selling its Premier Coal to Chinese-owned Yancoal Australia for $296.8 million, subject to approval by the Foreign Investment Review board and the Chinese government.

"The sale is subject to a number of conditions precedent including approvals from the Australian Foreign Investment Review Board and Chinese government authorities, which will be sought over the coming months," said Wesfarmers.

Wesfarmers Posts $1.9B Profit

Wesfarmers (ASX:WES) posted a 23 percent increase in net profit to $1.92 billion, but its retail earnings continue to trail due to consumer caution.

Annual total revenue rose 6 percent to $54.9 billion and retail businesses booked a 8.2 percent increase in pre-tax earnings for the year. The Coles chain jumped 21 percent in earnings due to a 6.9 percent increase in sales to $32.1 billion.

Woolworths and Bunnings Fight for Land

Woolworths' (ASX:WOW) is fighting for land for its home renovation development project. According to hardware industry experts, hazy laws on planning and not enough sites are proving to be the biggest roadblocks to Woolies and other major retailers' hopes.

Wesfarmers Slashes Coal Sales Guidance

Wesfarmers (ASX:WES) has downgraded its coal sales guidance due to extreme weather conditions at its Curragh mine in Queensland during the April quarter.

In a Thursday briefing, Wesfarmers told analysts it endured "significantly higher cash costs per tonne" due to heavy rainfall curbing production at the metallurgical mine.

ACCC Questions Wesfarmers' Burrup Bid

Wesfarmers' (ASX:WES) plans to bid up to $1 billion for Burrup Fertilisers has come under questioning by the Australian Competition & Consumer Commission (ACCC). The competition watchdog has asked for market comments on the proposed bid.

The ACCC suggested that Wesfarmers may eliminate competitors with the buy, but has cleared rival bidder Orica to proceed with a bid at Burrup. Burrup fell into receivership in December 2010.

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