Warehouse 1H profit climbs 12% as financial services exit starts paying off

Mon, 18 Mar 2019

By Paul McBeth March 19 (BusinessDesk) - Warehouse Group lifted first-half profit 12 percent as retailer's exit from its ill-fated financial services division starts paying off in a wider transformation of the group. Net profit rose to $35.8 million in the 26 weeks ended Jan. 27 from $31.9 million a year earlier. That included a smaller loss of $1.6 million from its discontinued finance operations, compared to a $3.5 million loss a year earlier. Stripping out $2.2 million of restructuring costs and the exited financial services unit,...

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