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Wesfarmers Ltd (WES.AX)

WES.AX on Australia Stock Exchange

21 Apr 2017
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$-0.52 (-1.17%)
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Latest Key Developments (Source: Significant Developments)

Wesfarmers says HY NPAT rose 13 pct
Tuesday, 14 Feb 2017 04:21pm EST 

Wesfarmers Ltd : hy npat $ 1.577 billion versus $1.39 billion a year ago . half-year revenue from ordinary activities $34.917 billion versus $33.46 billion . group continues to remain generally optimistic in its outlook . strong momentum and strong market positions provide for a positive outlook for banz, KMART and officeworks for second half of financial year. . Coles will continue to focus on delivering a strong customer proposition to support long-term growth in earnings and returns. . interim dividend (fully-franked) 103 cents per share . in short term, margin pressures are expected to persist . Target's performance in second half is expected to improve relative to prior corresponding period . full-year result for resources business is expected to benefit from increases in coal prices experienced during first half . downward pressure on shelf margin in food is expected to continue in second half of financial year .earnings contribution of coles financial services is expected to decline in second half.  Full Article

Wesfarmers says Bunnings chief executive officer John Gillam is stepping down as managing director of Bunnings
Tuesday, 6 Dec 2016 04:20pm EST 

Wesfarmers Ltd - :Bunnings chief executive officer John Gillam is stepping down as managing director of Bunnings after 12 years in role.  Full Article

Wesfarmers ltd says Coles enters into ten year agreement with Citi
Wednesday, 16 Nov 2016 05:49pm EST 

Wesfarmers Ltd : Coles has agreed to enter into a ten year agreement with Citi . Deal for distribution of Coles branded credit cards . Transaction is not expected to materially affect Coles' reported earnings for 2017 financial year . Net proceeds from transaction will be applied to repay Wesfarmers Group debt .Portfolio had gross receivables of approximately $880 million as at October 2016.  Full Article

Wesfarmers said to start $1.5 bln Australian coal mine sale - Bloomberg, citing sources
Tuesday, 15 Nov 2016 04:31am EST 

: Wesfarmers said to start $1.5 billion Australian coal mine sale - Bloomberg, citing sources . Company has sent preliminary information on the Curragh and Bengalla mines to potential buyers ahead of calling for bids - Bloomberg, citing sources .Wesfarmers is working with UBS Group AG on the potential divestments - Bloomberg, citing sources.  Full Article

Wesfarmers announces allocation price for shares to be issued through dividend investment plan
Wednesday, 28 Sep 2016 01:52am EDT 

Wesfarmers Ltd : Allocation price for shares to be issued through dividend investment plan for final dividend is $42.8651 ."shares are expected to be issued to participants in dividend investment plan on 5 october 2016".  Full Article

Wesfarmers says Bunnings confirms entering into agreement with Home Consortium
Wednesday, 24 Aug 2016 04:03am EDT 

Wesfarmers Ltd : Agreement for additional sites . Says Bunnings confirms that it has entered into an agreement with home consortium for a small number of these properties . Bunnings will enter into new leases directly with Home Consortium . Says Bunnings notes that home consortium agreement with woolworths limited is subject to the consent of Lowe's Companies, Inc . Refers to home investment consortium company (home consortium) agreement with Woolworths Limited to acquire the masters property portfolio .  Full Article

Wesfarmers says FY net profit attributable to members $407 mln vs $2.44 bln a year ago
Tuesday, 23 Aug 2016 07:14pm EDT 

Wesfarmers Ltd : 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 .  Full Article

Wesfarmers Ltd says Bengalla coal production for quarter was 786,000 tonnes
Sunday, 24 Jul 2016 09:22pm EDT 

Wesfarmers Ltd : "The increase in coal production reflected the impact of significant rainfall on mine operations in the previous quarter" . Curragh coal production for the quarter was 3 million tonnes . Wesfarmers' share of Bengalla coal production for quarter was 786,000 tonnes, 14.4 per cent below previous quarter .  Full Article

Wesfarmers says Target and Curragh significant items expected in 2016 full-year results
Tuesday, 24 May 2016 06:41pm EDT 

Wesfarmers Ltd : Target and curragh significant items expected . Target and curragh significant items expected in 2016 full-year results . "Restructuring costs and provisions of $145 million to significantly rebase target" . Says underlying FY 2016 EBIT loss for target of approximately $50 million . Non-cash impairment of $600 million to $850 million pre-tax ($420 million to $600 million post-tax) to be recorded in curragh . Non-cash impairment of $1.1 billion to $1.3 billion pre-tax to be recorded in Target . Accounting impairments in target and curragh, which will be finalised as part of the group's FY 2016 annual accounts, are non-cash in nature . Accounting impairments in target and curragh have no effect on current trading and will not impact the group's compliance with its banking covenants . Intended that group's final dividend for FY 2016 will be determined based on group's net profit after tax excluding impairment charges .  Full Article

Wesfarmers Ltd announces retirement of Stewart Butel as Managing Director
Monday, 2 May 2016 10:10pm EDT 

Wesfarmers Ltd:Retirement of Wesfarmers resources managing director.Announced the forthcoming retirement of Stewart butel, managing director.  Full Article

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Fitch Affirms Wesfarmers at 'BBB+'; Withdraws Rating

(The following statement was released by the rating agency) SYDNEY/SINGAPORE, March 09 (Fitch) Fitch Ratings has affirmed Australia-based retailer Wesfarmers Limited's Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB+'. The Outlook on the IDR is Stable. At the same time, Fitch has chosen to withdraw the ratings of Wesfarmers for commercial reasons. KEY RATING DRIVERS Defensive Cash Flows: Wesfarmers' rating is supported by significant contributions from the defensiv