New Zealand-based retailer The Warehouse has announced its financial results for the 53 weeks ended August 2.

The company reported a net profit after tax for fiscal 2009 of NZ$76.8m (£32.5m), compared with NZ$90.8m (£38.4m) in fiscal 2008. Group sales for the year were NZ$1.72bn (£728.3m), down 0.8% on the previous year.

Chairman Keith Smith said: “In light of economic conditions prevailing during the trading period, this is an excellent result.”