Aug 25 (Reuters) – Australia’s Coles Group reported a 13.7% rise in annual profit on Tuesday on stable financing cost savings as well as strong margin expansion and performance in the supermarkets business.
The country’s second-largest grocer reported underlying net profit income of A$1.26 billion ($900.77 million) for the year ended June 28, compared with A$1.10 billion a year earlier.
That beat a Visible Alpha consensus estimate of A$1.24 billion.
($1 = 1.3988 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru; Editing by Vijay Kishore)
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