Wesfarmers Limited : Wesfarmers Profit Jumps 11% Amid Weak Conditions
08/15/2012| 09:58pm US/Eastern
By Gavin Lower
MELBOURNE--Wesfarmers Ltd. (WES.AU) net profit in fiscal 2012 jumped 11% and the conglomerate said the outlook remained bright, even as it expected global uncertainty and weak retail conditions to persist.
Net profit was 2.13 billion Australian dollars (US$2.24 billion) in the year to June 30, said Wesfarmers, which owns Australia's second-largest supermarket chain Coles, and owns coal mining, insurance, chemicals and fertilizer businesses. The result was slightly above the A$2.10 billion average expected by seven analysts polled by Dow Jones Newswires.
The company announced a final dividend payment of 95 Australian cents a share, up from 85 Australian cents a year earlier.
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