Wesfarmers Limited (AU:WES) has released an update.
Wesfarmers Limited has reported a 3.7% increase in net profit after tax, reaching $2,557 million for the fiscal year ending June 30, 2024, despite a challenging market marked by cost pressures and subdued construction activity. The company attributes its success to the strength of its retail divisions, such as Bunnings and Kmart Group, their focus on value, and the effective management of everyday low prices and popular products. Wesfarmers’ commitment to digital growth and sustainability also saw progress, with reductions in emissions and a continued focus on safety and diversity in the workplace.
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