Diverse company Wesfarmers Ltd (ASX: WES) revealed on Thursday that the company gained a 2.8 percent improvement on its 2010 full-year profit, pushing further the Australian conglomerate's businesses to promising heights for the second half of the year.

The company said that by June 30 this year, net profit has reached $1.565 billion, coming from the $1.522 billion garnered last year while overall revenue totalled to $51.827 billion in the same period and jumped by 1.7 percent from the $50.982 billion posted in the previous year.

Wesfarmers said that the encouraging results would fetch shareholders a final dividend distribution of 70 cents for each share, picking up 16.7 percent of gains and leading to a full-year dividend of $1.25, fully franked.

Company chief executive Richard Goyder said that the better results compared to 2008/09 was encouraging for Wesfarmers considering that lower coal prices this year push down its earnings in the resources division.

Also, Mr Goyder pointed to the sustained recovery of the company's retail operations as he stressed that "progress is being achieved in building consumer trust through improvements in product quality, in-store service and value, as well as gains in supply chain efficiency and better working capital management."

Wesfarmers reported that earnings before interest and tax (EBIT) for all its divisions retreated by 2.6 percent at $2.869 billion though separating the company's resources interests, it would have registered growths of up to 31.1 percent.

The company said that Coles has managed to register 15.8 percent of improved earnings while profits in other divisions also increased such as Bunnings, 10.5 percent; Kmart, 79.8 percent and office supplies, 13.8 percent.

However, Wesfarmers said that its overall earnings was substantially pulled down by the company's earnings on its resources division, which dipped by 81.4 percent owing to the soft global prices of coal for the past nine months and the higher royalty payments that the company had to settle.

Overall, Mr Goyder said that Wesfarmers' business outlook for the new financial year is mostly encouraging with the resource division poised to gain more traction this year, set to be boosted by higher coal prices and solid market prospects for high-grade metallurgical coal.

As of 1132 AEST on Thursday, Wesfarmers shares were trading at $31.32, shedding a bit of its value by 48 cents or 1.5 percent from previous trading day.