This article was originally published on RNZ and re-published with permission.
The Warehouse Group has upgraded its full year profit expectations again.
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.