Bunnings owner told to share the wealth

Last updated 16:22 16/08/2012

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A Kiwi trade union has called on Australian conglomerate Wesfarmers, owner of the Bunnings hardware stores, to spread its wealth with its workers.

Wesfarmers today reported a A$2.12 billion ($2.75 billion) profit for the year, up 10.6 per cent on the previous year. Operating revenue for the year to June was up 5.8 per cent to A$58.1b.

First Union Retail said the results would be welcomed by Bunnings' New Zealand workers, who are currently in negotiations for a wage rise.

There are 48 Bunnings stores in New Zealand.

"The New Zealand shop workers who helped Bunnings NZ contribute to these good profits are looking for a bit of that wealth to be shared in current wage talks," said Maxine Gay, the union's secretary.

"Even in the peak of the recession, as high-end and luxury goods retailers took a backward step, DIY and homeware stores continued to do well as customers sought out lower cost goods."

The profit announcement showed Bunnings New Zealand was in a comfortable position to reward its workforce for their hard work and contributions to the company's success, she said.

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- BusinessDay.co.nz

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