February 20, 2018 / 8:56 PM / 3 months ago

Australia's Wesfarmers first-half profit slips 3 pct

Feb 21 (Reuters) - Australia’s biggest company by revenues Wesfarmers Ltd posted on Wednesday a dip in first-half profit as lower earnings from its supermarket chain Coles weighed on the bottom line.

Net profit for the retail-to-mining conglomerate excluding significant items edged down about 3 percent to A$1.54 billion ($1.21 billion) for the six months to the end of December, worse than the Morgan Stanley estimate of A$1.63 billion.

Reported profit for the period after including items related to Bunnings United Kingdom and Ireland (BUKI) and Target was A$212 million, the company added in a statement.

$1 = 1.2690 Australian dollars Reporting by Shashwat Pradhan in Bengaluru; Editing by Stephen Coates and Edmund Blair

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