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BRIEF-Wesfarmers says FY net profit attributable to members $407 mln vs $2.44 bln a year ago

Published 24/08/2016, 09:38 am
BRIEF-Wesfarmers says FY net profit attributable to members $407 mln vs $2.44 bln a year ago
WES
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Aug 24 (Reuters) - Wesfarmers Ltd WES.AX :

* FY net profit attributable to members $407 million versus $2.44 billion last year

* Final dividend 95 cents per share

* FY revenue $65.981 billion versus $62.447 billion last year

* Competition in the retail sector is expected to remain robust"

* "Business will report lower depreciation and lower hedge losses in the 2017 financial year"

* Outlook for the group's industrials division remains challenging in the short-term

* Market conditions in the mining and resources sector are expected to remain challenging in the near-term

* "Obligations to stanwell corporation will continue to adversely impact earnings through export rebates of $45 million to $55 million"

* "Pre-tax non-cash impairment of $1.27 billion was recorded in the carrying value of target"

* "Following decision to cease foreign exchange hedging, hedge losses of $92 million have been locked in for 2017 financial year"

* Curragh's metallurgical coal sales volume is forecast to be in the range of approximately 8.0 to 8.5 million tonnes for the 2017 financial year

* Source text for Eikon ID:nASX9MCszD

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