Coles Reports $1.1 Billion Full-Year Profit
Source: DairyNews.today
Coles has announced a robust full-year, after-tax profit of $1.1 billion, attributing this performance to stronger supermarket sales and initiatives aimed at reducing losses from theft. This financial milestone comes at a time when the company is under scrutiny for its pricing strategies amid rising living costs.
Despite the impressive profit figures, Coles' CEO, Leah Weckert, has sought to temper expectations, emphasizing the challenges faced by consumers due to inflationary pressures. Weckert highlighted that, while the company is delivering returns to shareholders, it remains acutely aware of the financial strain on families across the country. “We know that cost of living is very challenging for many families right now,” Weckert remarked in a recent interview, stressing the importance of addressing these issues in a national context.
In a broader market context, the Australian Securities Exchange (ASX) 200 index closed lower, following mixed results fr om the US markets on Wall Street. Among the notable market movements, Woodside shares surged by 4% after the release of the company’s half-year results, reflecting investor confidence in its performance.
Meanwhile, BHP, another major player in the Australian market, reported its half-year profits earlier today. The mining giant issued a cautionary note regarding softening demand for iron ore from Chinese steel mills, a trend that could have significant implications for the global commodities market.
The financial developments at Coles and BHP, alongside Woodside's market gains, underscore the complex dynamics at play in the current economic environment, wh ere companies are navigating between delivering strong financial results and responding to broader economic challenges.
In a broader market context, the Australian Securities Exchange (ASX) 200 index closed lower, following mixed results fr om the US markets on Wall Street. Among the notable market movements, Woodside shares surged by 4% after the release of the company’s half-year results, reflecting investor confidence in its performance.
Meanwhile, BHP, another major player in the Australian market, reported its half-year profits earlier today. The mining giant issued a cautionary note regarding softening demand for iron ore from Chinese steel mills, a trend that could have significant implications for the global commodities market.
The financial developments at Coles and BHP, alongside Woodside's market gains, underscore the complex dynamics at play in the current economic environment, wh ere companies are navigating between delivering strong financial results and responding to broader economic challenges.
23.09.2024
Carbon emissions in global milk production - the elephant in the room
I have been thinking to make this post yes/ no. I decided for yes and like to ask everyone to not "shoot the messenger". The chart shows an analysis of IFCN Dairy Research Network from the 2024 supporter conference in Poland.
