RESULT SHOWS “SOLID” GROWTH FOR MITRE 10

By November 07, 2016 Industry news

Mitre 10: annual result for 2016 is “another year of solid growth, expansion and innovation”.

Group revenue was $1.24 billion in the year ended June 30, +9.25% on the previous year’s figure.

Mitre 10 NZ Chairman, Martin Dippie, says: “Our financials show Mitre 10 is doing extremely well in a competitive retail and trade environment.

“We’re extremely pleased with the overall growth and direction of the co-operative and have been in the process of implementing transformational changes in our business to ensure this success will continue.”

With the opening of MEGAs in Papanui and Queenstown (photo above), Mitre 10’s store tally is now 81, with more stores planned for this year and early next.

The following is a useful tally of group sales over the last five years:

2016    $1,240m   +9.25

2015    $1,135m   +8.8%

2014    $1,043m   +10.5%

2013    $944m      +10%

2012    $858m

Subsequent to the release of the above information it has been reported that dividends of $5.8 million (up from $1.8 million) have been paid for the year.

 

share this