Wesfarmers’ $44m community spend

Wesfarmers has reported direct community investment of $44.6 million for the 2013-14 financial year, with social welfare and health the largest areas of expenditure.

Social welfare causes received nearly $9.8 million, and included the continued sponsorship of Surf Life Saving WA.

Causes focused on education received $3.7 million, while education and youth initiatives received $1.2 million.

The total figure amounted to 1.1 per cent of earnings before tax, and 1.7 per cent of the company’s profit after tax.

It was a significant drop from Wesfarmers’ total direct contribution of $51.2 million in the 2012-13 financial year, when the company spent to establish the Chair of Australian History at the University of Western Australia.

Last year, the company’s community investment spend was 1.4 per cent of earnings before tax and 2.3 per cent of after-tax profit.

The total contribution in 2013-14, when staff and employee donations were factored in, amounted to $50.8 million.