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.
Cadbury is launching two new products into Australian supermarkets, ‘Lolly Bag’ and ‘Party Mix’.
South Australian family chocolate business Robern Menz has acquired the Violet Crumble chocolate fro...
The Victorian Farmers Federation (VFF) is playing an active role in revitalising the dairy farming s...
New nutritional analysis reveals an average serve of eggs contain 82 per cent of Australians’ recomm...
A new Roy Morgan Research study has found Australians have a growing taste for butter.
The average Australian is spending $90 a month on fast food a Commonwealth Bank survey has found.
Unilever is bringing back Street’s Bionic Bubble Gum Paddle Pop.
CAUTION is being urged about the findings of a French study that found those who ate more organic pr...