Supermarket chain Coles showed a good momentum of growth in 2015, with food and liquor revenue increasing by 5.6 percent year-on-year to a total of AUD$937 million. Coles’ parent company, Wesfarmers, reported a net profit of AUD$1.39 billion for the second half of 2015, attributing this successful results to the quality of its retail portfolio – including Coles, Bunnings Warehouse and Target, among others – which earned a profit of AUD$176 million, up 9.2 percent. According to Richard Goyder, managing director of Wesfarmers, increased earnings were driven by investment in customer value, store network improvement and better merchandise offers and service drove increased earnings.
EARNINGS UP AT COLES IN 2015
