Woodside shares jump after half-year results, ASX closes lower — as it happened.
Coles has posted a $1.1 billion full-year, after-tax profit, citing stronger supermarket sales and work to limit losses from theft, while Woodside shares have jumped 4 per cent since the company released its half-year results.
The ASX 200 index closed lower after a mixed result from the US markets on Wall Street.
Look back at the day’s financial news and insights from our specialist business reporters.
Disclaimer: this blog is not intended as investment advice.
🎧Coles chief executive plays down profit result
Coles chief executive Leah Weckert has played down the grocer’s $1.1 billion full-year profit.
The supermarket giant is balancing returns to shareholders while customers are hurting from the high cost of living.
In response to political and consumer heat over alleged price gouging, Ms Weckhert said Coles’ profit has remained modest despite a painful period of high inflation.
“We know that cost of living is very challenging for many families right now,” she told the World Today.
“So it’s an important national conversation to be discussing how do we all play a part in impacting and reducing that impact on families all around the country.”
The ABC’s senior business correspondent Peter Ryan has done a deep dive on the results as well as on BHP, which reported its half-year profits earlier today.
The miner has issued a warning on softening demand for iron ore from Chinese steel mills.
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