The nation’s second largest supermarket group, Coles, this morning released its first-half financial results for the six months to December 30, showing a net profit after tax of $594 million, on pre-tax earnings of $1.9 billion.
The supermarket division accounted for the lion’s share of Coles result, including sales of $19.78 billion, up 4.9pc on the same period a year earlier, and earnings of $1.73b.
The strong supermarket division results for both Coles and major rival Woolworths (see last week’s H1 financial summary) comes as both retailers face mounting scrutiny over retail…
