Wesfarmers (ASX: WES) reports a decline in profits in FY22 results

Wesfarmers Ltd (ASX: WES) has announced its FY2022 results for the period ended 30 June 2022 and reported a statutory net profit after tax of AU$2,352 million for the period. Wesfarmers’ results show the impact on its business due to COVID-19 disruptions. 

Details from the company’s FY22 results are as follows:

• Wesfarmers delivered strong NPAT growth of 13.1% (excluding significant items in the prior period) in the second half of the year.
• Net financial debt position of AU$4,296 million as of 30 June 2022,
• Free cash flows of AU$1,110 million were 59.5% against the prior year. This reflects lower operating cash flows, payment of cash consideration for the acquisitions of API and Beaumont Tiles, and increased net capital expenditure. 
• The Group has decided to pay a fully-franked ordinary final dividend of 100 cents per share (cps).
• The Group recorded a net financial debt position of AU$4,296 million as of 30 June 2022.

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