Business Services Industry
Wesfarmers forecasts earn upgrade on high coal price.(Brief Article)
Australasian Business Intelligence, December, 2004 by Bolt, Cathy
Dec 15, 2004 (The West Australian - ABIX via COMTEX)
In Australia on 15 December 2004, investors added $A0.88 to Wesfarmers' share price on bullish prospects to mid-2006. The scrip closed at a near-record $38.40. Meanwhile, stockbrokers were busy upgrading the Perth-based diversified conglomerate, whose coal arm is in for a bumper 2005-06. Coal prices will more than double from 1 April 2005 and demand remains high. Citigroup lifted Wesfarmers' 2005-06 net profit forecast by 8.5 to $A968.8 million and another 8.5 the following year to $A1.0177 billion.
Publication Date: 16 December 2004
WESFARMERS LIMITED - ASX WES:
CITIGROUP PTY LTD:
CITIGROUP INCORPORATED:
NIPPON STEEL CORPORATION:
BHP BILLITON LIMITED - ASX BHP:...
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