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flag Australia's Coles Group experienced a drop in first-half profit.

flag Australia's Coles Group reported a 3.6% drop in first-half profit amid rising costs such as higher lease costs and interest rates. flag Despite significant cost pressures within the business, the company still managed to increase its revenue by 6.8% to $22.2 billion, while its supermarkets division saw a 4.9% rise in revenue. flag However, Coles' net profit after tax from continuing operations dropped to A$594 million ($388.36 million) compared to A$616 million a year ago.

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