Coles (ASX: COL) announced FY22 results; NPAT grew 4.3%

On 24 August 2022, Coles Group Limited (ASX: COL) announced its results for the 52 weeks ended 26 June 2022. During this period, the company experienced significant growth in its eCommerce operations, along with extra efficiencies from the Group’s Smarter Selling program. With the sales revenue growth of 2.0% in FY22, Coles has announced a fully-franked final dividend of 30.0 cents per share (cps). This takes Coles’ total FY22 dividends to 63.0 cps, an increase of 3.3% against FY21.

Other highlights from the company’s FY22 results include:

• Coles’ Net profit after tax grew 4.3% to AU$1,048 million in FY22.
• Basic earnings per share increased 4.6% at 78.8 cents in FY22, compared to 75.3 cents in FY21.
• Sales revenue grew 2.0% at AU$39.4 billion with robust eCommerce performance in Supermarkets Three-year headline sales increased 12.0% in Supermarkets, 18.0% in Liquor, and 8.1% in Express. 
• Stable EBITDA and EBIT of AU$3,440 million and AU$1,869 million, respectively. This was despite considerable COVID-19 costs, flood events, and other unfavorable events in the wake of COVID-19 lockdowns. 

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