Business
ASX to open lower; Wesfarmers, CSL set to report – The Sydney Morning Herald
Futures are pointing to a drop of 34 points, or 0.5 per cent, at the open as major corporates are set to reveal their half-year earnings.
[Target is] now expected to be profitable for the full financial year before one-off costs, the company said. Wesfarmers reported $34 million in one-off costs for the half related to the restructuring of Target, which will see it shut or convert 167 stores around the country.
Wesfarmers broader business also reported huge jumps in sales, with the companys total revenue for the half rising 16.6 per cent to $17.7 billion, and net profit after tax rising 25.5 per cent to $1.4 billion.
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