Half Yearly Report and Accounts

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Stock Coles Group Ltd (COL.ASX)
Release Time 27 Feb 2025, 8:21 a.m.
Price Sensitive Yes
 Coles Group Ltd reports half-yearly results
Key Points
  • Sales revenue up 3.7% to $23,106 million
  • Earnings before interest and tax (EBIT) up 2.4% to $1,082 million
  • Profit after tax down 2.2% to $576 million
Full Summary

Coles Group Limited has reported its financial results for the 27 weeks ended 5 January 2025. Sales revenue increased 3.7% to $23,106 million, driven by 4.3% growth in Supermarkets sales revenue and 0.8% growth in Liquor sales revenue. Earnings before interest and tax (EBIT) increased 2.4% to $1,082 million, underpinned by strong growth in Supermarkets earnings. However, profit after tax declined 2.2% to $576 million. The company incurred $35 million in significant items related to future closure and site reconfiguration costs. Financing costs increased by $58 million, reflecting higher interest on lease liabilities and increased interest rates on existing debt. The company's balance sheet was impacted by an additional payment run in the final week of the half, resulting in higher inventories and lower trade payables. Coles is currently involved in legal proceedings with the Fair Work Ombudsman and the Australian Competition and Consumer Commission, the outcomes of which remain uncertain.

Guidance

Coles Group Ltd has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.