New Zealand's Warehouse Group rises on swing to half-yearly profit

Warehouse

20/03/2025 23:12

** Shares of Warehouse Group WHS.NZ rise 3.7% to NZ$0.85

** Shares rose as much as 4.9% to NZ$0.86 in early trade, their highest level since October 7, 2024

** New Zealand based merchandise retailer logs half-yearly net profit after tax of NZ$11.8 million ($6.79 million), vs a loss of NZ$23.7 million

** Strict cost control led to a reduction in the cost of doing business, decreasing it to 31.3% of sales - company

** Stock down 17.3% YTD, including current session's moves

($1 = 1.7373 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))