Wesfarmers, owner of Kmart, Bunnings Warehouse, Officeworks and Priceline, announced a record $2.6 billion return.
Wesfarmers , who owns Kmart , Bunnings Warehouse, Officeworks and Priceline, announced a record $2.6 billion tax return.
Its chair Michael Chaney said companies like his were essential to the nation's economic prosperity amid a cost-of-living squeeze, adding "almost all the profits ended up outside the company". Opposition Leader Peter Dutton in July accused retail giants, including Bunnings, of repeated price gouging and proposed a coalition policy to break up major chains.
"Such an understanding would, I believe, lessen the chance of governments enacting laws that … work against the national productivity improvements that Australia so urgently needs. Wesfarmers managing director Rob Scott says Bunnings remained resilient against a weakening construction sector.
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