'Tough year': The Warehouse net profit slumps 66.6%

A tough year for The Warehouse and its customers. (Image: File)

Thu, 28 Sep 2023

The Warehouse Group’s reported net profit for the full 2023 financial year dived 66.6% as wallets shrank from hungry inflation.Chief executive Nick Grayston said inflation was “significantly impacting” margin as well as driving up the cost of doing business.However, the retailer’s board chair, Joan Withers, still declared a fully imputed final dividend of 8 cents per share, which she said was in line with the group's policy to “distribute at least 70% of adjusted net profit after tax&rd...

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