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BRIEF-Wesfarmers says FY net profit $2.44 bln

Published 20/08/2015, 09:41 am
© Reuters.  BRIEF-Wesfarmers says FY net profit $2.44 bln
WES
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Aug 20 (Reuters) - Wesfarmers Ltd WES.AX :

* App 4e - preliminary final report and 2015 full-year results WES.AX

* FY net profit $ 2.44 billion versus $2.69 billion a year ago

* Says final dividend 111 cents per security

* Says near-term outlook for the group's industrials division remains challenging

* Target expected to improve as its transformation plan continues"

* Says each business will seek to further reduce cost structures and optimise plant and mine performance

* Ammonium nitrate business is expected to benefit from increased customer demand"

* Lower benchmark pricing and a planned major plant shutdown in the second half of the 2016 financial year will affect ammonia earnings"

* Production economics are expected to remain challenging for Australian vinyls

* Kleenheat is expected to benefit from lower gas input costs"

* Competition in the Australian food and grocery industry is expected to remain high"

* FY revenue $62.45 billion versus $60.18 billion last year

* In each of the 2016 and 2017 financial years, 15 to 18 new bunnings warehouse stores are expected to open"

* Beyond the 2017 financial year, new bunnings warehouse stores are expected to open at the rate of 10 to 14 per year over the longer term."

* Beyond 2017 financial year, new bunnings warehouse stores are expected to open at the rate of 10 to 14 per year over longer term

* Kmart will continue to invest in its store network, and expects to open six new stores and refurbish 40 stores during the 2016 financial year."

* Outlook for the sodium cyanide business is positive"

* Current forecasts for export metallurgical and steaming coal pricing are subdued"

* Curragh's metallurgical coal sales volume is forecast to be in the range of 8.0 to 9.0 million tonnes for the 2016 financial year"

* Source text for Eikon ID:nASX1qyb4X

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