Wesfarmers Limited (WES), owners of Australian industrial gas company Coregas, recently reported a full year net profit rise of 33.6% and noted its expectation of improved sales for its industrial, medical and specialty gas businesses.
Although some sources suggest this rise to be lower than expected, full year net profit of $1.05bn provided the conglomerate with a positive outlook for continuing solid performances across most businesses.
Though apparently shy of consensus estimates, profits grew by around $264m and Managing Director Richard Goyder said the company had achieved a strong result for 2007/08.
“We’ve seen excellent results across a number of our divisions: Bunnings, Energy, Resources, Industrial and Safety, and Chemicals and Fertilisers,” he reflected.
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