Founding director leaves TWG

23 February 2005 – Takapuna (NZ): Executive and founding director of The Warehouse Group (TWG), Glen Inger, has resigned from his post following a career spanning 17 years with the company.

Inger, whose resignation will be effective from 6 May, wishes to dedicate more time to family and his varied business interests.

The company’s chairman Keith Smith says: "Glen has been a passionate contributor to the business’ growth and success. I and my fellow board members thank Glen for his commitment and enormous contribution to the company."

TWG expects to report a net profit of between NZ$50 million ($36.3 million) and NZ$54 million in the first half of 2005, or 3 -10 per cent lower than the corresponding period in 2004.

It expects full year earnings to be between NZ$66 million and NZ$71 million, or 8-16 per cent ahead of that achieved in the 2003/04 financial year.