Original article by Eli Greenblat
The Australian – Page: 17 & 27 : 22-Feb-18
Wesfarmers has posted a 2017-18 interim net profit of $A212m, which is 86.6 per cent lower than previously. Group revenue rose 2.8 per cent to $A35.9bn, while Bunnings’ revenue in Australia and New Zealand was 10.2 per cent higher at $A6.566bn. Supermarket chain Coles posted revenue of $A19.978bn, which is in line with the previous corresponding period. Wesfarmers CEO Rob Scott has called for corporate tax cuts to ensure that Australian companies are globally competitive, adding that a lower tax rate will ultimately boost wages.
WESFARMERS LIMITED – ASX WES, BUNNINGS GROUP LIMITED, COLES SUPERMARKETS AUSTRALIA PTY LTD, TARGET AUSTRALIA PTY LTD, KMART AUSTRALIA LIMITED, OFFICEWORKS SUPERSTORES PTY LTD, COCA-COLA AMATIL LIMITED – ASX CCL, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT