News: COL Coles Group Posts FY Profit After Tax Attributable A$1,048 Mln

Aug 24 (Reuters) - Coles Group Ltd (COL) :

• FY PROFIT AFTER TAX ATTRIBUTABLE A$1,048 MILLION VERSUS A$1,005 MILLION
• DECLARES FINAL DIVIDEND OF 30.0 AU CENTS/SHARE
• ON TRACK TO DELIVER UNDER FOUR-YEAR PROGRAM APPROXIMATELY A$1 BILLION OF BENEFITS BY END OF FY23
• FY REVENUE FROM ORDINARY ACTIVITIES A$39,746 MILLION VERSUS A$38,955 MILLION
• COVID-19 COSTS OF A$240 MILLION WERE INCURRED DURING THE YEAR
• FY SUPERMARKETS SALES REVENUE A$34,624 MILLION VS A$33,868 MILLION
• FY SUPERMARKETS COMPARABLE SALES GROWTH OF 2.6%
• FY22 ECOMMERCE SALES ARE MORE THAN TWO TIMES PRE-PANDEMIC LEVELS
• FY23 CAPITAL EXPENDITURE IS EXPECTED TO BE BETWEEN A$1.2 AND A$1.4 BILLION, INCLUSIVE OF WITRON AND OCADO PROJECTS
• INCREASED ESTIMATED CAPITAL INVESTMENT OVER 4-1/2 YEARS, INCLUSIVE OF CONTINGENCY, TO ABOUT A$1,040 MILLION FOR WITRON TRANSFORMATION PROJECT
• INCREASED ESTIMATED TOTAL CAPITAL EXPENDITURE OF PROGRAM TO ABOUT A$330 MILLION FOR OCADO TRANSFORMATION PROJECTS
• BENEFITS OF OVER A$230 MILLION WERE DELIVERED THROUGH SMARTER SELLING PROGRAM IN FY22
• IN FY23 COLES EXPECTS TO SPEND ABOUT A$310 MILLION IN CAPITAL EXPENDITURE IN RELATION TO WITRON AND OCADO
• IN FY23, SUPERMARKET SALES GROWTH WILL BE CYCLING COVID-19 LOCKDOWNS IN FIRST HALF OF FY22 AND PRICE INFLATION IN SECOND HALF OF FY22
• FOR FY23 IN LIQUOR, SALES GROWTH IS ALSO EXPECTED TO BE IMPACTED BY CYCLING OF COVID-19 LOCKDOWNS IN FIRST HALF OF FY22
• FY23 CORPORATE COSTS ARE EXPECTED TO BE APPROXIMATELY A$95 MILLION
• FOR FY23 PROPERTY EARNINGS ARE EXPECTED TO BE SLIGHTLY BELOW THAT ACHIEVED IN FY22.
• IN FY23 EXPECT TO OPEN ABOUT 20 NEW STORES, CLOSE NINE STORES AND RENEW ABOUT 40 STORES IN SUPERMARKETS
• IN FY23 EXPECT TO ACCELERATE NEW SPACE AND RENEW STORES AT A SIMILAR LEVEL TO FY22 IN LIQUOR