Wesfarmers CEO Scott on Earings, Outlook, Strategy

The transcript discusses the business recovery post-COVID, highlighting economic resilience in Australia and New Zealand. It addresses cost pressures from raw materials and labor, and strategies to manage these. The impact of the housing market on Bunnings is explored, along with expansion into the pharmaceutical sector. Labor shortages due to border restrictions and COVID are also discussed, with a focus on WA's policies.

What was the most disruptive period for trading in Australia and New Zealand during COVID-19?

• First half of 2021

• Second half of 2022

• First half of 2022

• Second half of 2021

How are businesses planning to handle rising raw material and labor costs?

• By cutting down on workforce

• By leveraging scale and unique capabilities

• By reducing product quality

• By passing all costs to customers

What is a positive aspect of the Australian economy mentioned in relation to the housing market?

• High levels of unemployment

• Excess supply of housing

• Low levels of unemployment

• Decreasing household savings

What sector is the West Farmers Group looking to expand into?

• Agriculture

• Technology

• Health, well-being, and beauty

• Automotive

What has caused labor shortages in Western Australia?

• Excess supply of labor

• Closed state borders and low unemployment

• High levels of immigration

• Open international borders

Which sector is notably affected by labor shortages due to border restrictions?

• Healthcare

• Education

• Construction and engineering

• Retail

What is expected to happen as Australian states and the country start to reopen?

• Decrease in business operations

• Easing of labor pressure

• Further tightening of border restrictions

• Increase in labor shortages