Wesfarmers Limited (AU:WES) has released an update.
Wesfarmers Limited has reported a successful financial year, with a record net profit of $2.6 billion, representing a 3.7% increase despite economic challenges like high interest rates and inflation. The company’s diverse operations, particularly the Kmart Group, have contributed significantly to this growth, while businesses like Chemicals, Energy & Fertilisers faced some setbacks. Wesfarmers continues to maintain a strong financial position, celebrating its 40th anniversary on the ASX with a remarkable valuation increase from $28 million to $80 billion.
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