Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Warehouse Surges Most in Four Years on Profit: Wellington Mover

Warehouse Group Ltd., New Zealand’s largest discount retailer, rose the most in more than four years after nearly doubling half-year profit and saying that 12-month earnings will beat the previous year.

The company reported half-year net income of NZ$106.3 million ($88 million), compared to NZ$54 million a year earlier, according to a statement today. It expects full-year adjusted profit after tax to be as much as 17 percent more than a year earlier. The shares rose 8.3 percent, the biggest daily gain since October 2008.

Warehouse’s half-year result was boosted by the sale of a distribution center and three stores, earning a NZ$62.4 million pretax gain. It also included the acquisition of electronics retail chain Noel Leeming Group Ltd., which Warehouse said would merge with its equivalent Bond & Bond network of stores.

“While still early in our multi-year transformation, we are pleased with the results of investments,” Chief Executive Officer Mark Powell said in the statement, adding that store re-fits would accelerate to 24 this calendar year.

Warehouse shares rose 29 cents to NZ$3.79 at the 5 p.m. close of trading in Wellington.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.