First half fall for TWG


15 March 2005 – Takapuna (NZ): The Warehouse Group (TWG) has revealed a 2.8 per cent decline in its unaudited operating profit for the six months ending 30 January.

The company reported operating profit fell to NZ$53.9 million ($39.8 million), while sales slid 2.3 per cent to NZ$1.21 billion. Warehouse Stationery, or Blue Sheds, sales fell 4.7 per cent to NZ$96.1 million.

Full-year earnings guidance remains unchanged on NZ$66 million – NZ$71 million.