Revenue from continuing operations of Wesfarmers FY 2018-2023

In financial year 2023, the revenue from continuing operations of Wesfarmers Limited was around 43.55 billion Australian dollars, indicating a significant increase from the previous year. Furthermore, the revenue from continuing operations of Wesfarmers Limited had increased constantly during the examined period.

Wesfarmers Limited

Headquartered in Western Australia, Wesfarmers Limited is a large conglomerate with diverse operations in the sale of retail, health, chemical, fertilizer, industrial and safety products. As of 2022, the company firmly holds the top spot among the leading retail companies listed on the Australian Securities Exchange in Australia by market capitalization. Wesfarmers owns and operates Bunnings, the Kmart Group, WesCEF (Wesfarmers Chemicals, Energy and Fertilizers), Officeworks, WIS (Wesfarmers Industrial and Safety), and in March 2022, the company acquired API (Australian Pharmaceutical Industries). Wesfarmers’ net profit after tax from continuing operations decreased slightly in financial year 2022, whilst the value of current assets witnessed an increase.

Retail Trends in Australia

In financial year 2021, online retail spending in Australia by region increased across many states, with Western Australia witnessing the largest year-on-year growth in online purchases. Forecasts show that retail spending during pre-Christmas sales in Australia is expected to rise in 2022, with shoppers in New South Wales expected to spend the most overall.