SYDNEY, June 3 (Reuters) – Australian hardware chain Bunnings expects elevated timber prices to squeeze its margins for up to another year, its managing director said on Thursday, amid a surge in demand that has been driven by a boom in home improvement and construction.
“We think about timber (and) we’ve probably got another six to 12 months of some challenge,” Michael Schneider said in an investor day briefing hosted by Bunnings owner Wesfarmers Ltd WES.AX.
(Reporting by Byron Kaye; Editing by Muralikumar Anantharaman)
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