Strong Financial Performance
Wesfarmers' net profit after tax increased by 14.4%, and excluding significant items, profit increased by 3.8% despite challenging trading conditions.
Capital Management Initiatives
Proposed capital management distribution of $1.50 per share, including a capital return of $1.10 per share and a fully franked special dividend of $0.40, subject to shareholder approval.
Retail Division Performance
Bunnings and Kmart Group continued strong performance. Bunnings earnings before property contributions increased by 4%, while Kmart Group's earnings rose by 9.2%.
Sustainability Achievements
Wesfarmers delivered a 9.3% reduction in Scope 1 and Scope 2 market-based emissions. Bunnings and Officeworks achieved 100% renewable energy targets.
Successful Portfolio Actions
Completion of the sale of Coregas for $770 million and the wind-down of Catch to improve future earnings.