Upgrade of Resource Earnings Immaterial to Wesfarmers' Overall Results
Narrow-moat-rated Wesfarmers expects its coal mines to generate an EBIT of AUD 135 to 140 million in the first half of fiscal 2017. This is a significant increase to the previous breakeven guidance for the division for the period, and a reported loss of AUD 310 million in full fiscal year 2016. However, in the context of an estimated group EBIT of AUD 4,475 million in fiscal 2017, the improved EBIT guidance is immaterial, particularly as we believe the current spike in metallurgical coal prices ...Wesfarmers is engaged in the retailing operations including supermarkets, merchandise and department stores, fuel, liquor and convenience outlets; retailing of home improvement and outdoor living products and supply of building materials; retailing of office and technology products; coal mining and production; gas processing and distribution; industrial and safety product distribution; and chemicals and fertilisers manufacture; and investments. Co.'s retail operations includes Coles, which operates Coles Supermarkets, Coles Express, Liquorland, Vintage Cellars, First Choice Liquor, and Spirit Hotels, among others; while its departmental operations include Kmart and Target retailers.
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