Tag: WES

Wesfarmers has hinted that its various businesses are finding conditions a bit tougher than in the 2010 financial year.

In some respects the Wesfarmers’ full year (and interim for that matter) results were misleading.

The Coles retailing business of Wesfarmers is starting to look like one of the standout retailing performers for 2009-10, especially in the 4th quarter.

Wesfarmers produced a surprise on the upside yesterday  in its 2009-10 first half profit announcement.

Hmmm, went investors yesterday as they studied the annual figures of Wesfarmers, ‘this is not good, it’s really a resources company with all these other bits attached to it, including Coles"

Investors looking for guidance from big broking houses on the Wesfarmers rights issue at an expensive $29 a share might find it tough to locate some straight up and down advice and a recommendation, if that’s what you are looking for.

In the prospectus and other documentation for the rights issue, Wesfarmers provided shareholders with this update:

The global sub-prime crisis and this week's recessionary fears have rehashed concerns about Wesfarmers' (WES) ability to refinance almost $4 billion in debt by October, with the Perth-based mining giant falling 14 cents yesterday and a further 76 cents this morning.

Wesfarmers has ambitious plans for Coles if its takeover is successful.

The weakness in the Coles and Wesfarmers share price has raised speculation that the $21.9 billion bid could be threatened.

Another all time high for Wesfarmers Ltd shares yesterday as it denied that it was withholding anything on its Coles Group bid from the market.

There was nothing really outstanding in the interim profit announcement yesterday from Wesfarmers.

In yesterday’s record market, Wesfarmers shares hit a 52 week high of $38.90, a 61c rise as investors again punted on some sort of private equity buyout of Australia’s largest and most diversified industrial conglomerate.