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RESULTS

Revenue for the Bunnings home improvement division increased to $4.9 billion, 15.5 per cent higher than last year’s, with trading revenue increasing by 11.9 per cent over the prior year. Earnings before interest and tax of $528.4 million were 25.7 per cent higher. This result included a net $53.7 million contribution from the sale of property developments in Australia and New Zealand during the year. Trading earnings before interest and tax (excluding property, WA Salvage and other non-trading items) were 16.1 per cent higher than the previous year.

Cash sales growth for the year was 13.8 per cent, with underlying store-on-store cash sales growth of 10.4 per cent. Pleasing results were recorded in all states of Australia and in New Zealand with growth being achieved across all merchandising categories.

Trade sales for the full year grew by 3.2 per cent on the previous year. Market conditions were mixed, with relatively better results in Queensland, New South Wales and Victoria