News: COL Coles Posts Q2 Comparable Sales Growth Of 7.4% In Supermarkets

Feb 21 (Reuters) - Coles Group Ltd (COL) :

• Q2 COMPARABLE SALES GROWTH OF 7.4% IN SUPERMARKETS AND DOWN 0.9% IN LIQUOR
• IN CURRENT QUARTER, SUPERMARKETS VOLUME GROWTH RETURNED TO MODESTLY POSITIVE FROM MID-JANUARY
• SUPPLIER INPUT COST PRESSURES REMAIN, PARTICULARLY RELATED TO PACKAGED GOODS, WAGES AND ENERGY
• INFLATION EXPECTED TO MODERATE FROM PEAK LEVELS SEEN IN Q2 AS WE BEGIN TO CYCLE H2 FY22 INFLATION
• CAPITAL EXPENDITURE STILL EXPECTED TO BE IN RANGE OF A$1.2 BILLION TO A$1.4 BILLION FOR FULL YEAR
• EXPECTING MORE CUSTOMERS WILL BE VALUE CONSCIOUS AS COST OF LIVING PRESSURES INCREASE
• IN LIQUOR, EXPECT EARNINGS TO RETURN TO GROWTH IN SECOND HALF AS WE EXIT COVID-19 CYCLING
• DEPRECIATION AND AMORTISATION IS EXPECTED TO BE APPROXIMATELY A$1.55 BILLION FOR FY FOR CONTINUING OPERATIONS
• WELL POSITIONED TO NAVIGATE THE CURRENT MACRO ENVIRONMENT
• EXPRESS FUEL AND CONVENIENCE DIVESTMENT EXPECTED TO COMPLETE IN FOURTH QUARTER
• EXPECT TO SEE NET INCREASE IN COSTS OF APPROXIMATELY A$10 MILLION FOR FULL YEAR COMPARED TO FY22