Bunnings making big plans

AUCKLAND: Bunnings New Zealand’s aims to almost double revenue in the next five years and employ a further 1200 to 1500 staff, according to its New Zealand general manager.

Australian Toby Lawrence (46) took over heading the national business from Jacqui Coombes in August and said the target was for annual sales revenue to rise from $1.3 billion in the June 30, 2018 year to $2 billion by 2023.

‘‘It’s a multipronged approach to getting new sites and with smaller regional stores, there’s opportunities for upgrades or replacements.

‘‘Our expansion in the next five years is to gear up. New stores will be in regional and metropolitan areas,’’ Mr Lawrence said.

‘‘We’ll create 1200 to 1500 new jobs over the next five years,’’ he said.

Thirdquarter sales in New Zealand were in line with Australian performance, he said, anticipating annual growth of 9% to 10%.

On April 27, ASXlisted Wesfarmers declared Bunnings Australia/New Zealand thirdquarter sales of $A2.7 billion, up 7.7% on the 2016 thirdquarter sales. Year to date sales were $A8.7 billion for Bunnings Australia/ New Zealand, up on $8 billion in the 2016 year, accounts showed.

But the business has suffered in Britain where Wesfarmers wrote off $1.1 billion of value.

Bunnings NZ also had a setback on March 9 in Queenstown when independent hearing commissioners refused its application to develop a new store at Frankton because it would result in more than minor adverse effects and be contrary to planning regulations.

Mr Lawrence said Bunnings had 55 New Zealand outlets: 27 Bunnings Warehouse outlets, 20 smallerformat stores and eight trade centres.

— NZME