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AAP
AAP
Business
Derek Rose

What cost of living crisis? Kmart owner profit soars

Kmart owner Wesfarmers had a bit of a bumper year in 2024/25, despite a cost of living crisis. (Bianca De Marchi/AAP PHOTOS)

The owner of some of Australia's best-known chain stores has reported a double-digit profit jump after successfully navigating a cost of living crisis and rising costs.

Wesfarmers on Thursday posted a bottom-line net profit of $2.9 billion for the 12 months to June 30, up 14.4 per cent on the prior year.

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