Hardware store group Bunnings have delivered revenues of $9.6M in the last quarter, an increase of 1.7% the growth came from both their commercial and consumer segments.
Earnings grew 3.1% to $1,282m this excluded net property contributions.
Over four years sales growth has been 8.1% making them one of the most successful hardware retailers in Australia. Total earnings growth (excluding property) over the same period was 8.8%.
Their return on capital was 65.8%.
Management claimed that strong performance from new products contributed to the growth, the business also witnessed higher visits of do-it-yourself consumers to their stores as well as an influx of new customers.
Strong cost discipline, efficiency measures and structural cost of doing business reduction initiatives continued to combat inflationary pressures and support ongoing investment in prices and experience for customers.
Recently fans of the award-winning Australian children’s TV show Bluey were left devastated after a special collaboration between the animated program and Bunnings Warehouse that saw a blue gnome that was selling for $19 being sold on EBay for $900 after it sold out in their stores.
