News: COL Coles Says Financing Costs Will Increase In H2 Reflecting Higher Level Of Gross Debt

Feb 27 (Reuters) - Coles Group Ltd (COL) :

• FINANCING COSTS WILL INCREASE IN SECOND HALF REFLECTING A HIGHER LEVEL OF GROSS DEBT
• MAJOR PROJECT IMPLEMENTATION COSTS IN RELATION TO OUR ADCS AND CFCS FOR FULL YEAR ARE LIKELY TO BE APPROXIMATELY A$130 MILLION
• IN FIRST EIGHT WEEKS OF Q3, SUPERMARKETS SALES REVENUE GREW BY 4.9%
• FOR CUSTOMERS, SEEING DEFLATION IN FRESH PRODUCE AND MEAT, AND CONTINUED MODERATION IN PACKAGED INFLATION
• IN LIQUOR, IN FIRST EIGHT WEEKS OF Q3, LIQUOR SALES REVENUE DECLINED BY 2.2%
• IN OTHER, 2H IS EXPECTED TO BE IMPACTED BY A NET LOSS ON PROPERTY OF APPROXIMATELY A$10 MILLION
• SEEING DEFLATION IN FRESH PRODUCE AND MEAT, AND CONTINUED MODERATION IN PACKAGED INFLATION
• UNDERLYING COST INFLATION, PARTICULARLY WAGE INFLATION, REMAINS
• WELL POSITIONED IN THE CURRENT ECONOMIC ENVIRONMENT
• ON 1 MAY 2023, COLES COMPLETED SALE OF ITS FUEL AND CONVENIENCE RETAILING BUSINESS TO VIVA ENERGY