First half results were broadly in line with expectations. Results included a $20m provision relating to the underpayment of salaried staff with the review ongoing.
Management has indicated that supermarket like-for-like sales early in the third quarter are broadly consistent with the prior quarter.
Wesfarmers ((WES)) will sell a stake in the company, reducing its minority interest to 10.1%. Reduce maintained. Target is raised to $14.72 from $14.29.
Sector: Food & Staples Retailing.
Target price is $14.72.Current Price is $16.75. Difference: ($2.03) - (brackets indicate current price is over target). If COL meets the Morgans target it will return approximately -14% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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