Briscoe Posts Higher Fiscal Q2 Sales, Lowers H1 Net Profit Guidance

MT Newswires Live08-04

Briscoe Group (ASX:BGP, NZE:BGP) said unaudited sales for the fiscal second quarter rose 2.1% to NZ$192.9 million, from NZ$189 million last year, according to a Monday filing with the New Zealand bourse.

Sales for the three months ended July 27 for the group's homeware segment rose 4%, while sporting goods sales fell 1.3%, per the filing.

The company said it continues to expect New Zealand retail to remain "challenging" in the fiscal first half but expects higher profitability in the second half.

Accordingly, BGP said it now expects its first half net profit after tax to be at least NZ$29 million, lower than its previous guidance of around NZ$30 million.

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