Published: August 14, 2018
Retail conglomerate also takes $300m writedown on underperforming Target
Wesfarmers has suffered a 58% drop in full-year net profit after taking more than $1.3bn in costs and losses on its disastrous Bunnings UK exit and a $300m writedown on underperforming Target.
The retail conglomerate posted a net profit for 2017-18 of $1.2bn, down from $2.87bn a year ago.
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