This time last year, Bunnings announced its New Zealand operation's FY 2014 operating revenue as NZ$813 million, which was a very decent +15% on the previous year (and also boasted EBIT growth of +9.4%).
Today, a year on, the NZ operation is reporting FY 2015 sales of $899 million for the year which is +10.5% on last year, along with “pleasing increases in earnings and the level of returns for the year”.
Showing slightly lower revenue growth than the NZ operation’s first half (+12.6%), Jacqui Coombes, General Manager of Bunnings New Zealand, says:
“Our business continues to enjoy strong momentum and this record result shows how well customers are responding to all the work we’ve done to deliver them stronger value, bring them wonderful new products and provide better experiences.”
The latest result is a long way from the $210 million reported at the end of 2002. “It is an amazing achievement and a testament to great teamwork right across the country,” says Coombes, adding: “There remains significant opportunity for growth across the country.”
Bunnings’ latest overall Home Improvement result, also just announced (PDF download!) puts total revenue at AU$9.53b (+11.6% on 2014) as well as +8.8% on same store sales and an EBIT showing +11.1%.