Month: January 2022

Wesfarmers preliminary half-year profit result.

Wesfarmers expects to report net profit after tax (NPAT) of between $1,180 and $1,240 million, in line with
current consensus expectations, for the half-year ended 31 December 2021.

The Group’s performance for the half was supported by pleasing results in Bunnings and Wesfarmers
Chemicals, Energy & Fertilisers, while results in Kmart Group and Officeworks were impacted by
COVID-related disruptions and costs

The first half FY22 number indicates that net profit is tracking in line with 2021.

Bega recently provided a trading update, with FY22 underlying EBITDA expected to be in the range of
A$195-215mn.

Earnings have been impacted by supply chain-related disruptions, with some offset by the full-year contribution of the Lion Dairy & Drinks acquisition and related cost synergies. FY23 earnings should reaccelerate and recent shareholder support from Andrew Forrest suggests the current price range is a good opportunity to build a position.

The market has sold companies with exposure to inventory disruption, such as WOW, COL, CKF and DMP. We consider all four names as buying opportunities and i’ll highlight the entry setups in tonight’s webinar.

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