Coles group (ASX: COL) focuses on new store openings to boost FY24 revenue

Thu 21 Sep 23, 09:48 AM | Team Kalkine

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Highlights

Coles Group is an Australian retailer which offers everyday products like fresh food, groceries, financial services and liquor.

In FY23, the company registered 5.9% YoY growth in group sales revenue.

Under the liquor and supermarket segment, the company aims at opening new stores and upgrading existing stores.

Coles Group Limited (ASX: COL) is a leading retailer in Australia that operates around 2,500 outlets nationally and its online platform. The company offers everyday products including financial services, liquor, groceries, and fresh food.

In the financial year 2023 (FY23), the company delivered 5.9% YoY growth in group sales revenue to AUD 40,483 million. During the reported period, the group’s EBITDA and EBIT increased by 3.8% and 1.8% YoY, respectively. However, the yearly profit dropped by 0.3% to AUD 1,042 million.

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