Australia's Wesfarmers posts revenue of $22,673 mn in H1 FY24

15 Feb '24

1 min read

Pic: Wesfarmers

Australian conglomerate Wesfarmers Limited has reported a slight increase in revenue, reaching $22,673 million for the first half of fiscal 2024 (H1 FY24), ending December 31, 2023, up 0.5 per cent from $22,558 million in the same period of the previous fiscal.

Earnings before interest and tax (EBIT) also saw an improvement, rising by 1.6 per cent to $2,195 million in the first half of fiscal 2024, compared to $2,160 million recorded in the corresponding period of 2022, the company said in a press release.

Net profit after tax (NPAT) experienced a more notable increase of 3 per cent, amounting to $1,425 million, up from $1,384 million in the prior year. Basic earnings per share (EPS) similarly reflected positive momentum, increasing by 2.9 per cent to 125.8 cents per share, up from 122.3 cents per share in the first half of fiscal 2023.

“Wesfarmers’ retail divisions executed strongly during the half, responding effectively to changing customer needs as households increasingly sought out value,” said Wesfarmers managing director Rob Scott. “In this environment, the retail divisions’ core offer of everyday products with market-leading value credentials supported growth in sales and customer transaction numbers.”

Fibre2Fashion News Desk (DP)

More Retail News - Australia...