Coles Group Ltd. ( (CLEGF) ) has released its Q2 earnings. Here is a breakdown of the information Coles Group Ltd. presented to its investors.
Coles Group Ltd., a prominent player in the Australian retail sector, operates supermarkets and liquor stores, offering a wide range of fresh food, groceries, and general merchandise, along with online services.
In its latest earnings report for the half-year ending January 5, 2025, Coles Group Ltd. reported a 3.7% increase in revenue from ordinary activities, reaching $23,106 million. However, the profit after tax attributable to members saw a slight decline of 2.2% to $576 million. The company declared an interim dividend of 37.0 cents per share, up from 36.0 cents in the previous period.
Key financial metrics highlighted include a 5.0% increase in segment EBIT to $1,117 million, driven by strong performance in the Supermarkets segment, which saw a 4.3% rise in sales revenue. Liquor sales showed modest growth of 0.8%. The company also faced increased financing costs due to higher interest rates and additional debt issuance. Notably, Coles is investing in supply chain modernization, with significant costs related to new automated distribution centers.
Looking ahead, Coles Group Ltd. remains focused on enhancing operational efficiencies and expanding its retail offerings. The management is optimistic about future growth, supported by strategic investments and ongoing efforts to improve customer experience across its retail platforms.