Other businesses

Mobile - Other businesses


Wesfarmers owns a 50 per cent shareholding in leading loyalty and data company Flybuys, with Coles holding the other 50 per cent. Formerly part of Coles, following the demerger of Coles in November 2018, the Flybuys business was set up as an independent,stand-alone business. As at 30 June 2023, there were nine million active members in the Flybuys loyalty scheme.

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BWP Trust

Wesfarmers’ investment in the BWP Trust (the Trust) contributed earnings of $9 million for the financial year compared to $121 million in the prior year, reflecting negative property revaluations. The Trust was established in 1998 with a focus on large format retailing properties and, in particular, properties leased to Bunnings. BWP Management Limited, the responsible entity for the Trust, is a wholly-owned subsidiary of Wesfarmers Limited. Units in the Trust are listed on the Australian Securities Exchange and Wesfarmers holds, through a wholly-owned subsidiary, 24.8 per cent of the total units issued by the Trust as at 30 June 2023. The Trust’s portfolio as at 30 June 2023 consisted of a total of 73 properties.

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Gresham Partners

Wesfarmers has a 50 per cent shareholding in Gresham Partners Group Limited, the holding company for the Gresham Partners operations. Gresham Partners is a leading independent financial services business with activities in corporate advisory, funds management, property, and capital solutions.

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Wespine Industries

The 50 per cent-owned Wespine Industries (Wespine) operates a plantation softwood sawmill in Dardanup, Western Australia. Wespine manufactures structural timber used for the construction, landscaping and packaging industries. Wespine is also continuing to develop an import wholesale operation under the brand Staxa. Following unprecedented demand through the COVID-19 pandemic, the level of demand for sawn timber products has moderated as home buyer incentives and other government stimulus has tapered. Timber sales of $140 million were achieved, only slightly behind last year’s record result of $145 million. This continued strong sales performance reflects the addition of imported supply to the Wespine offer and wider recognition of the benefits of timber for construction relative to more carbon intensive alternatives. Safety continues to be a focus for management with ongoing investment and operational initiatives to ensure a strong safety performance.

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