Wesfarmers Annual Report 2011
Contents
Highlights summary Review of operations Chairman’s message Managing Director’s review Wesfarmers leadership team Finance Director’s review Retail operations Coles Home Improvement and office Supplies target Kmart Industrial and other businesses Insurance Resources Chemicals, energy and Fertilisers Industrial and Safety other activities Sustainability Board of Directors Corporate governance statement Financial statements Directors’ report Directors’ report – Remuneration report 2011 Directors’ declaration Independent auditor’s report Annual statement of coal resources and reserves Shareholder information Five year financial history Investor information Corporate directory 2 4 8 10 12 14 16 18 22 26 30 34 36 40 44 48 52 53 56 58 66 67 72 172 173 174 176 178 179 180
About WesfArmers
Strength through diversity. From its origins in 1914 as a Western Australian farmers’ cooperative, Wesfarmers has grown into one of Australia’s largest listed companies. Headquartered in Western Australia, its diverse business operations cover: supermarkets; department stores; home improvement and office supplies; coal mining; insurance; chemicals, energy and fertilisers; and industrial and safety products. Wesfarmers is one of Australia’s largest employers and has a shareholder base of approximately 500,000. our objective Wesfarmers remains committed to providing a satisfactory return to shareholders. Proud history, strong future Steeped in a foundation of distribution and retailing since its formation, today Wesfarmers is one of Australia’s leading retailers and diversified industrial companies. stock exchange listing Wesfarmers is a company limited by shares that is incorporated and domiciled in Australia. Australian Securities exchange (ASX) listing codes: – Wesfarmers (WeS) – Wesfarmers partially protected Shares (WeSn)
Wesfarmers Limited ABN 28 008 984 049
Wesfarmers AnnuAl RepoRt 2011
Strength through diversity....