Wesfarmers Posts Downbeat First-Half Net Profit, To Pay Interim Dividend

Wesfarmers Ltd

posted a 0.3% y/y rise in its first-half net profit. Wesfarmers' net profit for the period surged to A$1.18 billion (US$1.26 billion), versus A$1.17 billion, versus analysts' estimates of A$1.21 billion. Wesfarmers' revenue from ordinary activities gained 5.7% to A$29.67 billion, versus A$28.07 billion. Wesfarmers announced its plans to pay an interim dividend of 70 Australian cents per share, versus 65 cents per share. Wesfarmers shares closed at $15.75 yesterday.