The Warehouse Group – Trading Update

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To: Market Information Services Section
NZX Limited
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Auckland, 25 February 2021

The Warehouse Group Trading Update
The Warehouse Group has today updated its guidance for its half year result. On 8 January the
Group stated that it expected Adjusted Net Profit After Tax (Adjusted NPAT) for the half year ended
31 January 2021 to exceed $90m, before accounting for the impact of repaying the wage subsidy.
Revised guidance is that H1 FY21 Adjusted NPAT will exceed $110m, compared to a figure of $46.2m
in H1 FY20. The half year result is still subject to the finalisation of audit review.
Group CEO, Nick Grayston says, “Strong trading over the January period, combined with excellent
operational performance and cost management, has delivered an improved result.”
The Group’s trading gross margin will be up circa 185 basis points versus prior guidance of 170 basis
points and closing cash was $183m versus FY20 year-end position of $168m.
ENDS

Contact details regarding this announcement:

Investors and Analysts: Jonathan Oram, Chief Financial Officer
To be contacted via Kim Russell +64 9 488 3285 or +64 21 452 860

Media: Jordan Schuler, Corporate Affairs Partner
+64211436930
media.enquiries@thewarehouse.co.nz