(MT Newswires) -- Wesfarmers CEO Rob Scott reports strong financial results for the company, highlighting the diversity and value of its retail portfolio. He notes that unemployment remains relatively low in Australia and that growth is supporting consumer spending, although the average size of shopping baskets is declining.
 
Scott acknowledges domestic cost pressures, including labour, energy, housing and supply chain costs, which could make inflation more persistent and affect employment. 
 
It discusses competitiveness in the retail sector, noting the need to differentiate through strong brands, product development, low prices and flexible purchasing options. Wesfarmers is focusing on offers such as click and collect and the OnePass subscription scheme to compete with national and international rivals.
 
On the lithium project, the CEO expressed his satisfaction with the progress of the project. The concentrator has been commissioned and the hydroxide refinery is nearing completion. He remains confident in the cost competitiveness and long-term viability of the project, despite the current volatility of lithium prices on the market.

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