Coles Posts Higher Annual Profit on Margins
Australias Coles Group reported an annual underlying net profit of A$1.26 billion, beating market expectations. The growth was driven by stable financing costs and strong supermarket performance.
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COLES GROUP LTD posted an underlying net profit of A$1.26 billion ($900.77 million) for the year ended June 28, topping estimates. The result for Australia's second-largest grocer compared with A$1.10 billion a year earlier. The profit beat the A$1.24 billion consensus estimate compiled by Visible Alpha.
