Australia's Coles posts 11% decline in first-half profit

Coles

26/02/2026 21:40

Feb 27 (Reuters) - Australia's Coles Group COL.AX reported an 11% decline in its first-half underlying profit on Friday, hurt by one-off charges relating to the federal court's decision on historical underpayments to staff.

The country's second-biggest supermarket chain posted a net profit after tax from continuing operations of A$511 million  ($363.17 million) for the six months ended January 4, compared with A$576 million reported a year earlier.

That missed the Visible Alpha consensus of A$674.5 million.

($1 = 1.4071 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru; Editing by Shinjini Ganguli)

 ((Sameer.Manekar@thomsonreuters.com;))