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Record profit for Wesfarmers

WESFARMERS has announced a record profit for the half-year ended December 31 of $601 million.

That result includes an after tax profit of $304.3 million from the sale of its rural services business Landmark to the Australian Wheat Board in August.

Excluding the profit from the Landmark sale, the net profit, before goodwill amortisation, was $338.5 million. That is up 26 per cent over the 267.6 million earned in the corresponding six months last year.

Increased earnings were recorded for the hardware, chemicals-fertilisers and insurance businesses.

However, there were reduced contributions from the company’s energy and industrial-safety businesses.

 

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