Wesfarmers plans big capex boost

WESFARMERS has budgeted to double its capital expenditure in the current financial year to more than $900 million, including a major expansion of its ammonium nitrate plant at Kwinana. Newly installed managing director Richard Goyder provided details of Wesfarmers’ capital spending plans when announcing another record profit for the diversified business. Net profit increased to $618.3 million in the year to June 2005, a rise of 9 per cent after excluding the one-off gain in the previous year from the sale of its Landmark business. The key drivers behind the profit growth were its energy division, helped by higher coal export prices, and its insurance division. The Bunnings hardware division, which had been the earnings powerhouse in prior years, achieved an 8.6 per cent increase in earnings. Mr Goyder said the biggest part of its capital spending plans was an expansion of its Queensland coal mining operations. Wesfarmers also plans to expand Bunnings through 10 to 14 new stores per year and refurbishments of existing stores. The expansion of CSBP’s ammonium nitrate production capacity is expected to cost about $150 million, and is subject to completion of a feasibility study.


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Wesfarmers (WES)

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BN30 Index

Index = 100 as of 4 Jan 2016
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Total Shareholder Return as at 29/03/18

1 year TSR5 year TSR
146thSeven Group Holdings68%18%
514thAutomotive Holdings Group-10%2%
614thSeven West Media-29%-17%
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2nd-Automotive Holdings Group$6,079.6m
3rd-Seven Group Holdings$2,340.3m
4th-Seven West Media$1,679.0m
236 listed industrial companies ranked by revenue.
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Remuneration from Wesfarmers

3rdJohn Durkan$5.288m
5thGuy Russo$4.038m
19thRob Scott$1.908m
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