Coles chief executive Leah Weckert said financial pressures on households and families were front of mind for the supermarket giant.
Coles made more than $1.1 billion in profits for the 2024 financial year, a 2.1 per cent uptick from the year before, as consumers flocked to its supermarkets in the cost-of-living crunch and online sales jumped.
In good news for shoppers, price growth in Coles’ supermarket aisles has started to cool down over the year, with inflation for products excluding tobacco slowing to 1.5 per cent in the six months through June from 2.9 per cent in the December half. The figure was 2.2 per cent for the year.Asanka Ratnayake/Getty Images
The company is declaring a fully franked dividend of 68¢ per share to be paid on September 25, a lift of 3 per cent.Coles chief executive Leah Weckert said financial pressures on households and families were front of mind for the supermarket.
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