Page 11 - HW MARCH 2020

Bunnings ANZ fares well in first half
THE BUNNINGS ANZ (BANZ) figures for H1 FY2020 (the 6 months to 31 December 2019) were pretty good.
Australasian revenue for the half was AU$7.3 billion (+5.3% on H1 FY2019) and its EBIT AU$995 million (+3.1% on the previous year), while same store sales were also decent at +4.7% (up from +4.0% in the previous year).
Says Wesfarmers’ MD, Rob Scott, of these numbers: “Solid earnings growth was achieved despite a lower net property contribution due to fewer property sales, underpinned by an ongoing focus on store cost control and continued growth in consumer and commercial markets across all major trading regions and in all product categories.
“Bunnings continued to execute its strategic agenda and made significant improvements to the in-store and online customer experience during the period, including range expansion, the rollout of click and collect in Australia and the
launch of Bunnings’ online marketplace in November 2019, Bunnings MarketLink.”
In terms of an outlook for the rest of the year, “moderated trading conditions” are expected to continue, thanks to customer caution and the impact of the recent Australian bushfires and other weather events across the ditch.
Key programmes for the second half-
plus include building Bunnings’ click & collect offering (now rolled it out across 100+ Australian stores) for the New Zealand market and building on the uptake of PowerPass (700,000 customers and growing).
Note that Bunnings’ New Zealand- specific figures were not presented on their own.
www.wesfarmers.com.au
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MARCH 2020 | NZHJ 9
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