News: WES Wesfarmers Announces HY NPAT Of A$1,384 Mln

Feb 15 (Reuters) - Wesfarmers Ltd (WES) :

• HY REVENUE FROM ORDINARY ACTIVITIES A$22,558 MILLION VERSUS A$17,758 MILLION
• DECLARED INTERIM DIVIDEND OF 88 AU CENTS PER SHARE
• HY NET PROFIT AFTER TAX A$1,384 MILLION VERSUS A$1,213 MILLION
• ELEVATED INFLATION & HIGHER INTEREST RATES EXPECTED TO IMPACT DEMAND IN PARTS OF AUSTRALIAN ECONOMY
• CONSTRUCTION OF MINE AND CONCENTRATOR AT MT HOLLAND WELL ADVANCED, WITH FIRST EARNINGS FOR THE PROJECT SEEN IN FIRST HALF OF CY 2024
• RETAIL TRADING RESULTS FOR FIRST 5 WEEKS OF SECOND HALF OF FY 2023 HAVE BEEN BROADLY IN LINE WITH GROWTH REPORTED FOR FIRST HALF
• WESCEF EXPECTED TO CONTINUE TO BENEFIT FROM FAVOURABLE COMMODITY PRICES IN SECOND HALF
• GROUP EXPECTS NET CAPITAL EXPENDITURE OF BETWEEN A$1,000 MILLION AND A$1,200 MILLION FOR 2023 FINANCIAL YEAR
• ELEVATED INFLATION & HIGHER INTEREST RATES EXPECTED TO RESULT IN HOUSEHOLDS CONTINUING TO BECOME MORE VALUE CONSCIOUS
• WESCEF WILL CONTINUE TO ADVANCE OFFTAKE DISCUSSIONS WITH KEY LITHIUM CUSTOMERS
• FIRST PRODUCTION OF LITHIUM HYDROXIDE NOW EXPECTED IN FIRST HALF OF CY2025, AROUND 6 MONTHS LATER THAN PREVIOUS GUIDANCE