AUSTRALIA: Coles Myer asks for shareholder patience, may break up non-food
Stan Wallis, the chairman of Australian retailer Coles Myer , has asked the group's 580,000 shareholders to remain patient as he and his board mull how best to bolster falling profits. Wallis blamed the introduction of the goods and service tax (GST) last year and slow economic growth for a steady decline in group profits.
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