Coles Group Raises Provision to AU$254 Million Following Federal Court Ruling on Workplace Pay Matter

MT Newswires Live

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Coles Group (ASX:COL) recognised an additional provision of AU$235 million in the current year following a Federal Court ruling upholding the Fair Work Ombudsman's interpretation of several General Retail Industry Award and Fair Work Act provisions, bringing the total provision as at June 28 to AU$254 million, according to a Tuesday Australian bourse filing.

The company said there is a risk that the determination of orders and potential appeals may impact its current assessment and require further remediation payments, with any potential penalties and the impact of the class action remaining uncertain.

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