Coles Group 2024 Half Year Results Presentation

Coles Group Limited (ASX: $COL) has released its 2024 Half Year Results Presentation, reporting good progress against immediate strategic priorities. The reported Group EBIT for continuing operations is $1,064m, showing a 0.6% increase versus the prior corresponding period. Additionally, the operating cash flow stands at $1,886m with 102% cash realization. The Coles Board has declared a fully-franked interim dividend of 36 cents per share with a record date of 6 March 2024 and a payment date of 27 March 2024.

Executive Commentary

The 1H24 financial highlights demonstrate our commitment to delivering value for customers and sustainable benefits for all stakeholders. We have made significant investments in value and improvements in availability, resulting in Supermarkets volume growth. Our continued product innovation and strong growth in Exclusive to Coles and Exclusive Liquor Brands have contributed to our strong performance. Furthermore, our focus on eCommerce, digital, and loyalty has shown robust growth, reflecting our dedication to meeting the evolving needs of our customers.

Summary

Coles Group's 1H24 financial results reflect the company's dedication to delivering value and sustainable benefits for all stakeholders. The company has reported good progress against immediate strategic priorities, with investments in value and improvements in availability underpinning Supermarkets volume growth. Coles Group has also demonstrated strong growth in eCommerce, digital, and loyalty. Looking ahead, Coles Group aims to continue delivering value for customers and sustainable benefits for stakeholders, positioning itself well in the current economic environment.