As The Warehouse Group reported the results of the 2014 year at its annual meeting, the importance of the upcoming Christmas period was emphasised by the company’s chairman, Ted van Arkel.

The group this year has continued with the significant reshaping of the company, said van Arkel, establishing a strong platform for growth, and positioning the company’s businesses for the future.

Businesses included The Warehouse (Red Sheds), Warehouse Stationery, Noel Leeming, and Torpedo7.

van Arkel said that while trading over the last few weeks was softer that the company’s plan, the Christmas trading period over the next six weeks was a focus.

“Having said that, our plan for the full year F15 is still to deliver adjusted NPAT above that of the full year F14, as previously indicated. Subject to any event or material change in trading conditions that may trigger a continuous disclosure obligation, earnings guidance will be provided at the time of the half year result announcement in March 2015.”

The company reported that 2014 sales were $2.6 billion compared to $2.2 billion last year.

Net profit after tax was $60.7 million compared to $73.7 million in FY13, after adjusting for unusual items.

Operating cash flow in FY14 was $76.6 million.

van Arkel reported that although the economy grew strongly in the first half of 2014, the pace in the retail environment appeared to be slowing.

He said that there was the continued mindfulness of debt by households and businesses, as well as signs of pressure in the agricultural sector.

Due to this, the company was not factoring any particular tailwinds or headwinds in its planning.