Wesfarmers (WES) $61.91
WES +5.04%: the retail and industrial conglomerate hit levels not seen in more than 2 years on a strong 1H update today. Revenue was marginally higher and slightly ahead of expectations, while Earnings Before Tax (EBT) of $2.1b was a 5% beat to consensus. Bunnings, Officeworks & their health and industrials segments were all in line with expectations while in WesCEF, which includes the company’s lithium exposure, was softer than forecast. The beat came from the Kmart group that contributed $601m to EBIT, $117m better than the market had expected. The outlook comments largely reiterated the 1H result Lithium is expected to weigh in the 2H with their spodumene production running at a loss on spot prices and the company will withhold sales into the market while prices remain subdued.
- Retail continues to hold up better than expected with Kmart the stand out.
News: WES Wesfarmers Says HY Net Profit Attributable Up 3.0% To A$1,425 Mln, page-10
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Last
$66.85 |
Change
-0.670(0.99%) |
Mkt cap ! $75.81B | |||
| Open | High | Low | Value | Volume |
| $67.67 | $68.18 | $66.85 | $343.6M | 5.198M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | $66.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $66.97 | 1578 | 1 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| WES (ASX) Chart |