New Zealand Warehouse Stationery has recovered from a series of internal restructuring issues to deliver a record annual profit.

 

The office products retailer, a division of the Warehouse Group, said it had recovered from its systems integration and stock availability issues and returned to historical levels of performance, delivering an operating profit of NZ$16.7 million, up 54.7 per cent. Retail gross profit was a record NZ$118.6 million.

 

The company said the result was boosted the strong performance of its print and copy and furniture categories.

 

Warehouse Stationery, which has 70 locations, reported operating revenues of NZ$268.6 million, up 1.8 per cent. Same store sales increased by 1.4 per cent.

 

Warehouse Stationery’s online sales rose 11 per cent, with 75 per cent growth in mobile web-based sales.