NZ's Warehouse year profit rises strongly
WELLINGTON, Sept 13
WELLINGTON, Sept 13 (Reuters) - New Zealand's biggest listed retailer, The Warehouse Group Ltd, reported a 61 percent rise in its annual profit on Friday on higher sales and margins from new acquisitions, and said it expected a higher year profit.
The Warehouse reported a net profit after tax of NZ$144.7 million ($117.6 million) in the 12 months to July 28, compared with NZ$89.8 million the year before.
It said its adjusted net profit, taking account of acquisitions and one-off items, was NZ$73.1 million, against guidance of NZ$73 million to NZ$76 million, and last year's NZ$65.2 million.
The company declared a dividend of 5.5 cents against last year's 6.5 cents a share.
The Warehouse has more than 220 stores, under three different brands, selling everything from grocery, clothing, and garden items through to office supplies, appliances, and computers.