2023
AT A GLANCE

We have achieved a strong full year sales result but a challenging financial performance as profitability was compromised with decreased margin and increased cost of doing business.

$ 3.4 b

Group sales

up 3.2%
on prior year

$ 37.5 m

Adjusted NPAT

down from $85.5m
in FY22

$ 29.8 m

Reported NPAT

down from $89.3m
in FY22

$ 48.1 m

Net debt

compared to $41.2m
in FY22, $83.4m in FY23H1.
Liquidity $421.9m

We are making progress on our vision to make sustainable living easy and affordable for everyone and on our ambition to achieve zero emissions in our operations by 2040.

We’ve been helping Kiwi families and communities thrive since our doors opened in 1982.

Gender equity is a core focus for us, and we’re pleased to maintain gender pay equity at Group level.

Our customers are increasingly coming into our stores and enjoying their experience. We are committed to developing a full product and service integrated retail experience across our brand websites, apps and in store.

1. Adjusted Net Profit After Tax(NPAT) is before unusual items and is a non-GAAP measure. A reconciliation between Adjusted and Reported NPAT can be found in Note 5 of the Financial Statements for the year ended 31 July 2022.

2. Scope 1 & 2 emissions increased due to higher inventory management, increased Distribution Centre hours and use of stores as fulfilment centres as we operated under COVID-19 safety protocols.