Warehouse Group is forecasting a 15 percent to 21 percent lift in first-half net profit for the country's largest multi-channel retailer, following strong Christmas trading and improved management of seasonal stock.
Adjusted net profit after tax for the six months ending January 31 is expected to range between $43 million and $45 million, the board said in a statement.
Strong first-half sales and profit performance have been recorded across all the group's retail brands with the on-going execution of the group's strategy resulting in both sales and margin growth, it said.
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The retail profit has been "somewhat tempered" at a group level by the anticipated start-up losses in the new financial services business, which are expected to continue for at least two years while it builds scale.