23 Aug 2019

Warehouse Group upgrades full year profit expectations

10:43 am on 23 August 2019

The Warehouse Group has upgraded its full year profit expectations again.

The Warehouse store in Auckland.

Photo: 123rf

New Zealand's largest retailer adjusted its underlying profit guidance to between $73 million and $75m for the 12 months to July, after last month's guidance was increased to between $67m and $70m.

The retail group owns The Warehouse, Warehouse Stationery, Noel Leeming and Torpedo-7.

The company the latest increase to the bottom line followed a full accounting of its incentive payments to staff.

The audit process had commenced and there were a number of unusual items yet to finalised ahead of the release of the full year result later next month, it said.