February 5, 2020 / 9:47 PM / 21 days ago

Australia's Coles flags lower H1 earnings on shaky margins at liquor business

Feb 6 (Reuters) - Australia’s Coles Group said on Thursday it expects operating earnings to fall in the first half of fiscal 2020, citing margin pressure at its liquor business.

The supermarket chain forecast earnings before interest and tax of A$710 million to A$730 million ($478.82-$492.31 million), lower than A$733 million reported in the first half a year earlier. ($1 = 1.4828 Australian dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Vinay Dwivedi)

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