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    WHS   NZWHSE0001S6

THE WAREHOUSE GROUP LIMITED

(WHS)
  Report
End-of-day quote New Zealand Stock Exchange  -  2022-12-06
2.900 NZD   -1.36%
11/24Warehouse : 2022 Annual Meeting Presentation
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11/24Warehouse : Annual Shareholders' Meeting 2022 - Chair's and CEO's Address
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11/24Transcript : The Warehouse Group Limited - Shareholder/Analyst Call
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Robust retail demand boosts Australia's JB Hi-Fi profit, dividend

08/14/2022 | 07:07pm EST

Aug 15 (Reuters) - Australia's JB Hi-Fi said on Monday its domestic sales were strong in the new financial year after the electronics retailer reported a nearly 8% jump in annual profit and raised its dividend by more than a tenth.

"The group is pleased with its start to FY23, with continued sales momentum and strong sales growth rates over a three-year period," the country's no.2 retailer said, as comparable sales in July grew 9.2% at its domestic business and 7.8% at its The Good Guys brand.

JB Hi-Fi was one of the beneficiaries of the COVID-19 pandemic as work-from-home mandates meant higher demand for electronics.

With the easing of COVID curbs, the company was able to reopen all of its stores in the latter half of the financial year, while online sales soared over 52.8% and JB Hi-Fi maintained a leash on costs.

While the cost of doing business in Australia rose, in line with higher inflation in the country, the company said expenses remained low due to "continued focus on productivity, minimising unnecessary expenditure and leveraging scale."

That partly helped it raise its full-year dividend to A$3.16 a share from A$2.87 a year ago.

Net profit attributable rose to A$544.9 million ($387.8 million) for the year ended June 30, compared with A$506.1 million a year ago.

"Sales trends remained strong through July as expected ... We believe demand will eventually soften and do not expect a material share price move," Jefferies analysts said in a note.

Comparable sales at JB's New Zealand business, which has been underperforming its Australian counterpart, shrank about 1% in July.

The company said it had completed a strategic review of the New Zealand business and appointed former Warehouse Group executive Tim Edwards as managing director of the unit to lead a turnaround.

($1 = 1.4049 Australian dollars) (Reporting by Harshita Swaminathan; Editing by Daniel Wallis, Kim Coghill and Sherry Jacob-Phillips)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACCENT GROUP LIMITED 0.57% 1.755 Delayed Quote.-26.12%
JB HI-FI LIMITED 0.85% 44.99 Delayed Quote.-7.60%
THE WAREHOUSE GROUP LIMITED -1.36% 2.9 End-of-day quote.-27.50%
All news about THE WAREHOUSE GROUP LIMITED
11/24Warehouse : 2022 Annual Meeting Presentation
PU
11/24Warehouse : Annual Shareholders' Meeting 2022 - Chair's and CEO's Address
PU
11/24Transcript : The Warehouse Group Limited - Shareholder/Analyst Call
CI
11/21Warehouse : Media release The Warehouse Group launches volunteer leave to mark 40 years
PU
11/16THE WAREHOUSE GROUP LIMITED : Ex-dividend day for final divi..
FA
11/16THE WAREHOUSE GROUP LIMITED : Bonus dividend due to over-pro..
FA
10/26Warehouse : 2022 Notice of Annual Shareholders' Meeting
PU
10/17Warehouse : strengthens Leadership team with Chief Corporate Affairs Officer appointment
PU
09/30Auckland International Airport Appoints Future Director
MT
09/28The Warehouse Group Limited Reports Earnings Results for the Full Year Ended July 31, 2..
CI
More news
Financials
Sales 2023 3 412 M 2 169 M 2 169 M
Net income 2023 101 M 64,3 M 64,3 M
Net Debt 2023 45,2 M 28,7 M 28,7 M
P/E ratio 2023 9,91x
Yield 2023 7,32%
Capitalization 1 002 M 637 M 637 M
EV / Sales 2023 0,31x
EV / Sales 2024 0,30x
Nbr of Employees 12 000
Free-Float 28,5%
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Technical analysis trends THE WAREHOUSE GROUP LIMITED
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 3
Last Close Price 2,90 NZD
Average target price 3,53 NZD
Spread / Average Target 21,6%
EPS Revisions
Managers and Directors
Nick Grayston Group Chief Executive Officer
Jonathan Oram Group Chief Financial Officer
Joan Withers Chairman
Edwin Gear Chief Information Officer
Antony John Balfour Independent Non-Executive Director
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