--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20240216-wesfarmers-first-half-profit-increases-by-3/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # Wesfarmers’ first-half profit increases by 3% Publication Date: 16.02.2024, 14:00 Wesfarmers said that the jump in half-year profit was driven by strong retail performance. Its chemicals, energy, and fertilizer unit saw a 21% drop in revenue. The Australian conglomerate Wesfarmers on Thursday reported a 3% increase in half-year profit, driven by a robust performance on the part of its retail businesses. The Perth-based company, which also runs fertilizer, lithium, and healthcare operations, said that its net profit after tax for the half-year ending December 31 was AUS$1.43bn ($930mn), up from AUS$1.38bn the previous year. Revenue rose 0.5% year on year to AUS$22.67bn. Wesfarmers reported that its budget department store Kmart saw a 4.8% revenue increase and its hardware store Bunnings saw a 1.7% revenue increase. Its chemicals, energy, and fertilizer unit, meanwhile, suffered a 21% drop in revenue. “Wesfarmers’ retail divisions executed strongly during the half, responding effectively to changing customer needs as households increasingly sought out value,” said Wesfarmers managing director Rob Scott. “In this environment, the retail divisions’ core offer of everyday products with market-leading value credentials supported growth in sales and customer transaction numbers.” --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.