Coles releases 2020 FY results: impacts of bushfires, droughts and COVID-19 reflected
Coles Group has published its 2020 full year results which reflect the impacts of bushfires, shortages, droughts and COVID-19 on their performance.
Performance summary:
▪ Full year sales revenue increased by 6.9% to $37.4 billion with sales revenue growth across all segments
▪ 51st consecutive quarter of Supermarkets comparable sales growth, increasing by 7.1% in Q4
▪ Liquor comparable sales growth of 20.2% in Q4
▪ Express convenience (c-store) comparable sales growth of 8.3% in Q4
▪ Achieved Smarter Selling cost savings in excess of $250 million
▪ Group EBIT growth achieved for the first time in four years, increasing by 4.7%
▪ Strong earnings per share growth of 7.1%
▪ Cash realisation of 111% and net debt of $0.4 billion, providing significant capacity for future growth
▪ Fully-franked final dividend of 27.5 cents per share declared, a 14.6% uplift on the prior year final dividend
▪ Delivered a total shareholder return of 31.7% for the financial year
▪ Customer satisfaction improved across all segments in Q4
▪ Improved mysay team member engagement score by 7 percentage points, improved safety with 18.3% reduction
in Total Recordable Injury Frequency Rate (TRIFR) compared to FY19
To view and download the PDF release, click here.
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