Update: Coles Group's Total Revenue Rises 5.1% in Fiscal 2024; EPS Up; Shares Up 2%

(Updates to add stock movement in the headline and the first paragraph, and the company's outlook in the fourth and fifth paragraphs)

Coles Group (ASX:COL) shares rose 2% in midday trade Tuesday as the company reported that its earnings per share in the 12-month period ended June 30 rose to AU$0.835, compared with the prior-year period's AU$0.821.

Analysts polled by Visible Alpha were expecting EPS of AU$0.81.

Total group sales revenue was AU$43.57 billion, up 5.1% from AU$41.47 billion in the previous year. The Visible Alpha average estimate was for revenue of AU$43.39 billion.

The projected operating capital expenditure for fiscal 2025 is estimated to be around AU$1.2 billion. This year is crucial for the company as it ramps up its second automated distribution center and transitions its metro Sydney and Melbourne next-day home delivery orders to its two automated customer fulfillment centers.

The company also plans to expand its supermarket segment with eight new stores and its liquor segment with 13 new stores.

The retail chain operator declared a final dividend of AU$0.32 per share with a record date of Sept. 4 payable on Sept. 25.

Price (AUD): $18.83, Change: $+0.37, Percent Change: +2.00%