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Wesfarmers Limited Financial Summary
Wesfarmers was formed in 1914, as Western Australian farmers’ cooperative. Over the last 95 years, the company has expanded through strategic acquisitions to become one of Australia’s largest retailing and diversified industrial companies and employers. Today, their operations include: department stores, supermarkets, coal mining, fertilisers, and more. This diversification and acquisition strategy has had a positive effect on the company’s bottom line.
Wesfarmers’ sales have more than tripled from $9.7 billion in 2007 to $33.3 billion in 2008. While operating profit has only increased by approximately 50%, from $786 million in 2007 to just over $1 billion in 2008. The company’s net assets have increased more than five-fold, however, from $3.5 billion in 2007 to $19.5 billion in 2008.
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