CANBERA (dpa-AFX) - Coles Group Ltd. (COL.AX, CLEGF), an Australian supermarket chain, reported Tuesday slightly higher profit in fiscal 2026 with increased sales revenues in Supermarkets. Further, the company lifted dividend, and said it enters fiscal 2027 with strong momentum and a solid balance sheet.
In Australia, the shares were gaining around 3.18 percent, trading at A$23.36.
In the year, net profit was A$1.09 billion, up 1.0 percent from A$1.08 billion a year ago. Earnings per share was 81.2 cents, compared with 80.5 cents a year ago.
Adjusted net profit of A$1.26 billion grew 13.7 percent from A$1.10 billion in the prior year, driven by strong supermarket sales momentum and disciplined cost control.
Adjusted basic earnings per share increased to 93.8 cents from 82.6 cents a year ago.
EBIT excluding significant items was A$2.32 billion, up 9.9 percent from A$2.11 billion in the prior year. Total adjusted group EBITDA reached A$4.22 billion, up 7.1 percent from A$3.94 billion a year ago.
The company reported total group sales revenue of A$45.58 billion, a growth of 2.8 percent from A$44.35 billion in the prior year. Supermarkets sales grew 3.7 percent, while liquor sales declined 3.3 percent.
Further, the Coles Board declared a fully franked final dividend of 37 cents per share, with a record date of September 4 and a payment date of September 22. This increases total declared dividends for the year by 13.0 percent to 78 cents per share.
Regarding the current trading, the company stated that Supermarkets sales growth for the first eight weeks was consistent with the fourth quarter of fiscal 2026.
In the initial weeks of fiscal 2027, sales momentum was well ahead of the previous fourth quarter levels, with a temporary moderation during a competitor's collectibles campaign in late July and early August.
Following the end of the collectibles campaign, sales recovered quickly to levels consistent with fourth quarter fiscal 2026. In liquor, the sales trajectory strengthened across the first eight weeks compared with fourth quarter fiscal 2026.
The company added that it is investing in the next phase of growth, including an accelerated store opening and renewal program.
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