Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Sales First Quarter (ended 31 October 2003)

PRESS ANNOUNCEMENT

POSTIE PLUS GROUP LIMITED

From Today’s Annual General Meeting


27 November 2003

Sales First Quarter (ended 31 October 2003)


The sales for the quarter were $20.46 million with Postie+ being the strongest contributor. Strong sales from Postie+ were offset by lower than expected sales in Rendells and Arbuckles, resulting from unusually wet weather, particularly in the northern area.

Profitability for the quarter was in line with expectations.

The Company partially hedges its foreign exchange exposures usually one season in advance depending on volatility. The Company has largely hedged its US exposure for the Winter 2004 season to preserve margins for this period.

A larger format Postie+, including health and beauty, and a combined Postie+ Baby City, opened mid November in Addington, Christchurch. Early results are favourable. Expansion of this concept is dependent on suitable sites.

A new branch format for Arbuckles, incorporating improved fitout and merchandising, has opened in Dunedin. This is aimed at broadening the appeal of this business. This will be supported by some product refinement.

Similarly, a new modernized branch format for Rendells opens in Tauranga in December.

The Company believes these revised formats and synergies from the various businesses provide a good foundation for the future.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

EU Wine Exports: Peter Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO:

Science: Legendary Telescope Being Brought Back To Life

One of the world’s most famous Victorian telescopes will be restored and available for public viewing in Takapō after spending five decades in storage... The Brashear Telescope was used in the late 1800s by Percival Lowell for his studies of Mars. More>>