ASX:WESMultiline Retail
Wesfarmers (ASX:WES) Shares Reflect Profit Strength And Margin Drift
Wesfarmers walked into this result with the market already cooling on the stock. The share price has slipped about 11% over the past month and is now around A$79, while the stock still trades on a rich P/E of roughly 31x. That premium set a high bar for this earnings print.
The headline is simple: Wesfarmers delivered about A$2.9b in net profit after tax and lifted the full year dividend to A$2.22 per share. The market now has to decide whether that earnings and dividend story justifies the...