Australian retailer Wesfarmers Ltd. (WES.AX,WFAFF.PK) reported that its net profit after tax was A$2.557 billion for the full year ended 30 June 2024, an increase of 3.7 per cent on the prior year, reflecting earnings growth in the retail divisions, partially offset by higher borrowing costs due to an increase in average interest rates and lower capitalized interest. Basic earnings per share were 225.7 cents per share up from 217.8 cents per share in the previous year.
Annual revenue grew to A$44.19 billion from A$43.55 billion in the prior year. The Board has determined to pay a fully-franked ordinary final dividend of 107 cents per share, taking the full-year ordinary dividend to 198 cents per share. The final dividend will be paid on 9 October 2024.
Wesfarmers said it will continue to invest in its existing operations and in the development of platforms for long-term growth and shareholder value creation. The Group expects net capital expenditure of between A$1.100 billion and A$1.300 billion for the 2025 financial year.
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