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Australia's Wesfarmers says half-year profit gains on home improvement
February 14, 2017 / 9:31 PM / 7 months ago

Australia's Wesfarmers says half-year profit gains on home improvement

SYDNEY, Feb 15 (Reuters) - Australian retail-to-mining conglomerate Wesfarmers Ltd posted its highest first-half profit in more than a decade on Wednesday, as higher sales in its home improvement unit offset declining earnings from the country’s No. 2 supermarket chain Coles.

Net profit for Wesfarmers, Australia’s biggest company by sales, rose 13 percent to A$1.58 billion ($1.21 billion) for the six months to end December, better than the average forecast of of A$1.51 billion from three analysts polled by Thomson Reuters I/B/E/S.

$1 = 1.3063 Australian dollars Reporting by Byron Kaye; Editing by Edwina Gibbs and Andrew Roche

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