Chief executive Neil Cowie resigned this week to lead Mitre 10 (New Zealand).
Mr Cowie replaces John Hartmann, who returned to the US in April.
The shares fell 3.2% to 90 cents before the announcement was made, and closed at that price.
Profit is $4.7m in the six months ended January 31, from a loss of about $30m a year earlier.
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