The "Big Red Shed" is still in the red, despite rising revenues

The Warehouse Group's confirmed an annual net loss of 2.76 million dollars -- but it's a massive improvement on last year's 54.2-million dollar loss.

Profit margins are continuing to be squeezed, but are still higher than expected.

Chair Dame Joan Withers says the company's had another very difficult year, and economic conditions remain challenging.

She says they're making progress - but still have a lot of work to do to turn things around.