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Australia’s success means ‘Wesfarmers is doing well’

Article image for Australia’s success means ‘Wesfarmers is doing well’

Australians spent roughly $50 million a day at Bunnings in the six months to December 31, sending earnings for the period through past $9 billion.

The retail splurge continued at Kmart, Target and Officeworks, helping retail giant Wesfarmers post a 23 per cent jump in net profit to $1.39 billion.

Investors will be rewarded with an interim dividend of 88 cents per share, an increase of 17 per cent on the previous corresponding period.

CEO Rob Scott says the companies retail portfolio all posted impressive results.

“We should be very proud as a country of how we’ve handled COVID, it hasn’t been easy and we haven’t got everything right, but we’ve got through it in pretty good shape,

“If Australia is doing well, you’ll generally find that Wesfarmers is doing well,” Scott said.

Click play to hear the full interview:

 

BROOKE CORTE
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