Coles Profits Up Nearly 14 Percent Despite $235 Million Staff Underpayment Hit
The group saw strong performance across its supermarkets, where revenue was up 3.7 percent and eCommerce sales grew 26.4 percent to $5.6 billion.
TL;DR
- Coles achieved a 2.8% increase in sales, reaching $45.58 billion.
- Earnings before interest and tax (EBIT) rose by 9.9% to $2.32 billion.
- A $235 million charge was recorded for underpaying staff.
- Net profit after tax saw a 13.7% increase, totaling $1.26 billion.
- Supermarket revenue grew by 3.7%, with EBIT up 12.2%.
- eCommerce sales surged by 26.4%, reaching $5.6 billion.