Officeworks has reported a 3.8% lift in revenue to $3.57 billion for the financial year ending June 2025, though the retailer surprised suppliers by deciding not to send buyers to next week’s IFA trade show in Berlin. The move has disappointed several vendors who were preparing to pitch new PC accessories and private-label product opportunities to the Wesfarmers-owned chain.

Annual profit rose 1.9% to $212 million, supported by strong trading during Black Friday, the End of Financial Year sales, and the Back-to-School period. Technology and “Print & Create” were highlighted as the biggest profit drivers, as Officeworks continued to push harder into categories traditionally dominated by JB Hi-Fi.

Sales to business customers fell, with management citing tough economic conditions affecting small- and medium-sized enterprises. Profit growth was achieved largely through cost-cutting, productivity measures, and disciplined expense management, which helped offset rising operating costs.

The year also included one-off costs tied to the closure of Circonomy.

During FY25, Officeworks upgraded 25 stores with new layouts and technology, deployed a demand and replenishment system to improve stock availability, launched the Officeworks for Business loyalty program targeting SMEs, and acquired Box of Books to strengthen its education offering. While no financial breakdown was provided for online operations, the retailer said it remains focused on enhancing omnichannel experiences and transforming its technology service model — a strategy viewed as a direct challenge to JB Hi-Fi.

At group level, parent company Wesfarmers posted a 4% rise in underlying annual profit to $2.65 billion, up from $2.56 billion the prior year, with revenue climbing 3.4% to $45.7 billion. Strong performances from Bunnings and Kmart underpinned the result, with both banners continuing to benefit from value-driven strategies and productivity gains.

Wesfarmers announced a $1.7 billion capital return, including a $1.50 per share distribution made up of $1.10 as a return of capital and $0.40 as a fully franked special dividend. The board also declared a fully franked final dividend of $1.11 per share, taking the full-year dividend to $2.06, a 4% increase.

Managing Director Rob Scott said the results reflected the resilience of the group’s core divisions, but cautioned that rising labour, energy, and supply chain costs would remain headwinds in FY26, despite solid early trading across its major retail businesses.