Reported about 10 hours ago
Australia's second-largest grocer, Coles, announced an annual profit surpassing analyst expectations, buoyed by recent interest rate cuts that have sparked consumer optimism and increased sales, particularly in groceries. Despite a decline in tobacco sales due to regulatory changes and rising finance costs impacting profits, the company's shares surged by 8.6% as it aims for stronger growth amidst challenges.
Source: YAHOO