Wesfarmers Reports 23% Rise In Profit

Wesfarmers Ltd

reported a 23% surge in its full-year profit. Wesfarmers' net profit for the period climbed to 1.92 billion Australian dollars ($2.03 billion), from A$1.57 billion, in the year-earlier period. However, analysts were expecting a net-profit of A$1.88 billion. Wesfarmers shares gained 0.95% to $15.98 in after-hours trading.