Wesfarmers’ big result

MOST Wesfarmers shareholders left the rural conglomerate’s 19th annual general meeting pleased with the company’s strong results and promising future.

Earnings per share were 76¢ and the company paid a fully franked dividend of 73¢ per share.

The company’s 11 non-executive directors should be happy too, with shareholders agreeing to a 6 per cent fee increase.

The standard Wesfarmers directors’ fee is about $53,000 and an extra $768,000 will be spread among them.

Wesfarmers chairman Harry Perkins said directors were required to devote more time to the company.

However, anti-logging Wesfarmers shareholders had disappointing meeting, with their interjections ignored, their healing dance stopped, their generously proportioned stripper rapidly removed and their boardroom hopeful Peter Radican overwhelmingly rejected – again.

Wesfarmers finished the first quarter of 2000-01 with an operating profit after tax of $42.6 million, 48 per cent above the $28.8 million recorded in the corresponding period last year.

The company finished 1999-2000 with a market capitalisation of $3.5 billion and an after tax operating profit of $202 million.

Bunnings was again the star, with a first quarter result 16 per cent above the same quarter last year. It is rated as Australia’s fastest growing Do-It-Yourself goods retailer.

High world liquefied petroleum gas prices helped Kleenheat’s export returns but caused a margin squeeze in Australia, where it is forced to absorb some of the price increases.

Wesfarmers purchase of the Curragh Coal Mine in Queensland and its 40 per cent stake in the New South Wales Bengalla Mine paid dividends.

Curragh’s contribution to first quarter profits was above expectations due to above-budget export sales volumes, US dollar selling prices and the declining Australian dollar value.

Both Bengalla and the company’s Premier Mine in Collie recorded above budget first quarter results.


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Wesfarmers (WES)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/08/18

1 year TSR5 year TSR
131stSeven Group Holdings68%29%
576thAutomotive Holdings Group-22%-5%
782ndRCR Tomlinson-62%-13%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$0 Other
$47k Bought
$5k Issued
Total value as at the date of the transaction
Source: Morningstar


2nd-Automotive Holdings Group$6,472.6m
3rd-Seven Group Holdings$3,411.5m
4th↑RCR Tomlinson$2,004.1m
237 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Wesfarmers

4thGuy Russo$4.038m
16thRob Scott$1.908m
169thMichael Chaney$569k
Ranked by total remuneration from all listed WA companies

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