Revenue was up 18.2 per cent to $43.6 billion, with earnings before interest and tax growing 6.3 per cent to $3.7 billion.
Kmart Group - which includes Target - saw revenue rise 16.5 per cent to $10.6 billion. Earnings spiked 52.3 per cent to $769 million, a record for the business.
"Pleasing sales growth continued in the second half as customers responded positively to Kmart's lowest price positioning and good product availability," Wesfarmers said.
Target's trading performance was in line with the prior year, although the second half saw stronger performance in apparel and challenging trading in home and toys.
Bunnings revenue grew 4.4 per cent to $18.5 billion, with up 1.2 per cent to $2.2 billion, with strong demand from commercial customers partially offset by lower consumer sales.
Consumers were more cautious in the second half about making big-ticket purchases and commencing larger do-it-yourself projects but continued buying necessity and smaller-scale DIY home improvement projects.
Catch, the ecommerce business acquired in 2019 for $230 million, saw revenue drop 30.6 per cent to $354 million. It incurred a $163 loss, up from $88 million the year before.
Managing director Rob Scott called those results disappointing but said a restructuring undertaken during the year supported progress in the second half.
Wesfarmers is predicting it will remain loss-making in 2023/24 but believes losses will diminish as it reduces its in-stock range and exits unprofitable lines.
For the first seven weeks of 2023/24, sales growth has moderated for Kmart Group but remaining steady for Bunnings.
Wesfarmers will pay a fully-franked dividend of $1.03 per share, bringing its total dividends for the year to $1.91, up 6.1 per cent from last year.
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