Bunnings triples annual profit in NZ as pickup in construction spurs demand

Wed, 10 Dec 2014

By Suze Metherell Dec. 10 (BusinessDesk) - Bunnings, the hardware chain owned by Australian Wesfarmers, more than tripled annual profit in New Zealand, as a booming property market stoked demand for building products. The New Zealand unit of the diversified Australian company reported profit of $4.9 million in the year ended June 30, from $1.1 million a year earlier, according to financial statements lodged with the Companies Office. Sales rose 15 percent to $813 million. Bunnings declined to comment on its annual report, pointing instead...

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