Coles Group profit up 3.5 per cent

SYDNEY - Australia's second largest retailer Coles Group Ltd said it will consider all options for the sale of the company, including the demerger of two of its businesses, after reporting a 3.5 per cent lift in first half earnings.

Net profit for the first half was A$501 ($573.68) million, up from A$484.5 million.

The company said the result was in line with expectations as it works through a range of options for a change in its ownership.

The sale of Coles is being watched closely by analysts in New Zealand because it could have ramifications for the future of New Zealand retailer The Warehouse. There has been speculation that The Warehouse could be interested in buying parts of Coles.

- AAP