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Wesfarmers profits slide

colesContinued growth in sales at supermarket giant Coles and hardware chain Bunnings is expected to contribute to another billion dollar profit for parent company Wesfarmers.

The retail conglomerate will report for the half year to December on Thursday, and expectations are for an improvement on the $1.43 billion made in the same period a year earlier.

Investors will be keen to hear how the company expects to be impacted by a slowing economy and rising unemployment, while its struggling Target business will again come under scrutiny.

Wesfarmers has also reportedly been looking at a potential acquisition in the financial industry, as it is keen to expand into credit and lending products.

AAP

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