Mitre 10 annual sales rise 10% on back of Auckland, Christchurch activity

Mon, 17 Nov 2014

By Suze Metherell Nov. 18 (BusinessDesk) - Mitre 10, the hardware chain, said full-year sales rose 10 percent to exceed $1 billion for the first time, driven by demand in Christchurch and Auckland. Sales rose to $1.04 billion in the year ended June 30, the retailer said in a statement. The chain increased its distributions paid to members 11 percent to $58 million, while share capital increased 5.1 percent to $46 million. "Our distribution to our members has grown at a higher rate than our sales number - that tells me that our margin...

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