Bunnings owner told to share the wealth

Last updated 16:22 16/08/2012

Relevant offers

Industries

Year of the Rooster something to crow about as 54K Chinese celebrate New Year in NZ Biomass survey sounds warning for southern scallop recovery Boneface boosts Upper Hutt's brewing hub 2degrees gives free calls and texts in response to upgrade frustration Building conference to look at better, faster, cheaper construction The dawn of the unstructured era will change CFO roles Automated odds and more betting options a win-win, says TAB boss 2degrees customers struggling to top-up for almost two weeks Smartphone users told to put down devices - for 5 hours Church's $320m empire can't be used for Christ Church Cathedral restoration

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.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content