nine.com.au

Coles posts $45.7B sales as $235M provision follows underpayment ruling

Coles Group logoColes Group
Sig4.36Sen-1.97Env0.00Soc-4.34Gov-4.86

Coles reported full-year group sales of $45.7 billion, up 2.8%, but net profit rose only 1% to $1.09 billion after setting aside about $235 million for historical staff underpayments following a Federal Court decision. The ruling struck down a common practice for salaried managers working 50 to 60-plus hours without overtime penalties, contributing to systemic payroll failures.

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