12 Mar 2009

The Warehouse's profit falls after liquor and fresh food exit

8:27 pm on 12 March 2009

The Warehouse's profit has fallen 24% to $49 million in the January half year, due to costs associated with exiting liquor and fresh food retailing.

When excluding the $7.4 million cost of dumping its Extra grocery division, The Warehouse's profit was steady at $56.8 million.

Its chief executive Ian Morrice says the company is pleased with a flat profit, given lagging consumer spending.

He says he believes the company has managed difficult circumstances and managed them well.