Wesfarmers has announced a slight 1.2 per cent decline in tax-paid profit to $2.35bn following significant pandemic-related disruptions to trading.
The retail conglomerate comprises Bunnings, Officeworks and Kmart Group – which includes Kmart, Target and Catch.
For the period ended 30 June, overall group sales increased 8.5 per cent to $36.8bn while earnings before interest and tax fell 2.3 per cent to $3.6bn.
Wesfarmers MD, Rob Scott, said the group will continue to invest in its business and “renew” its portfolio despite the disrupted trading environment.
For the first seven weeks of FY23, retail trading conditions for the business have remained “robust” despite the effects of inflation on household budgets.
The OnePass membership program — a digitally native subscription service — will be extended to its other retail businesses (Bunnings and Officeworks) in the next financial year.
