Coles has posted a profit of $1.1 billion in its 2024 full-year results, an increase of 2.1 per cent on the previous year.
Sales revenue from its supermarkets totalled $39 billion, an increase of 4.3 per cent on the previous year, while its liquor sales revenue grew 0.5 per cent to $3.69 billion.
The company recorded impressive growth of 30.1 per cent in its online sales, which Coles said was due to improvements in customer experience, availability, and strong trade across key events such as Black Friday.
Leah Weckert, CEO of Coles Group, said the financial pressures on households and families have been front of mind for the company this year.
“We have endeavoured to deliver value across our supermarket, liquor and online offerings to help customers balance the household budget. At the same time, we have worked hard to deliver improvements in availability and quality, made significant inroads in addressing loss, accelerated our digital offering, continued to maintain a strong focus on costs and completed the construction of our second ADC and both our CFCs.”
The Coles Board has declared a fully franked final dividend of 32.0 cents per share, up 3 per cent, with a payment date of 25 September 2024.
James Graham, Chairman of Coles Group, said as a result of a constant focus upon quality, efficiency and value, they delivered a solid financial result.
“This year marks 110 years since our first store opened in Smith Street, Collingwood, Victoria. Ever since that time, we have been focused on providing great value, quality groceries and essentials to our customers.
“Our progress over this last year reflects the continuation of this commitment – working with our team, suppliers and partners to efficiently deliver fresh food, groceries, household items and liquor across our network of more than 1,800 retail outlets, serving customers nearly 18 million times a week.”
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