Good Shares to Buy

Wesfarmers positive outlook

{ 11:01 AM, 25/2/2008 } { 0 comments } { Link }

Wesfarmers (WES) indicated that it does not need to sell assets this year despite having to refinance $4 billion of debt accrued during its $20 billion acquisition of Coles Group. Chief executive, Richard Goyder, said Wesfarmers has plenty of cash because of its lucrative investments in the coal industry, with very strong profits and cash flows in its coal division in coming years expected to support other ventures. He said Wesfarmers was dealing with Coles's "structurally flawed" business. Wesfarmers shares are trading at $39.00.
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