COL -4.60%: shares in the supermarket giant fell to 6-week lows today on soft outlook commentary. FY22 Net Income was $1.05b, up 4% and a slight beat to expectations, paying a 30c final dividend, largely as expected. The beat was driven by the core supermarkets business whereas Liquor and Express saw EBIT falls of 1.2% and 37.3% respectively. While no specific guidance was provided, the company talked about continued inflation pressure, particularly in wages, supply chain, weather impacts and energy. They will also be cycling strong sales seen in lockdowns this time last year so expect to see lower sales year on year early in FY23.
MM is neutral COL
Add To Hit List
