Increase despite weakening growth

The home improvement division of the Australian Wesfarmers Group, of which Bunnings Warehouse is the main channel of distribution, recorded sales of AUD $ 7.153 bn in the recently completed financial year (to 30 June 2012). That was an overall increase of 5.6 per cent, or 3.9 per cent like-for-like. Nevertheless, the pace of growth tended to weaken somewhat over the course of the year. The rate of growth in the fourth quarter amounted to 4.1 per cent on a sales volume of AUD $ 1.619 bn. Within this context, managing director John Gilliam spoke of a sustained process of deflation and a tight economic environment for commerce. Bunnings opened seven new stores in the fourth quarter, and there were ten more under construction at the end of the quarter.