Building boom powers Bunnings NZ bumper annual profit

Fiona Rotherham
Tue, 29 Nov 2016

By Fiona Rotherham Nov. 29 (BusinessDesk) - Bunnings, the home improvements product chain owned by Australian Wesfarmers, has more than doubled annual net profit in New Zealand for the second year in a row as it benefits from a construction boom stimulating demand for building, hardware and garden supplies. Net profit after tax for the year ending June 30 was $27.2 million, compared to $12 million the year prior. Revenue lifted to just over $1 billion from $898 million in 2015. Related party loans increased to $305,000 from $313,000 th...

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