Briscoe Group reports $374.2M in half-year sales
Full story: https://grafa.com/en/news/australia/briscoe-group-reports-374-2m-in-half-year-sales
-
Briscoe Group achieved record first-half sales of NZ$374.2 million despite a decline in net profit after tax to NZ$27.6 million.
-
The company declared an interim dividend of 10 NZ cents per share as total sales grew 0.79%.
-
Growth was driven by strong performance in sporting goods sales and expansion in online retail channels.
Briscoe Group (ASX:BGP) reported record first-half sales of NZ$374.2 million for the 26-week period ended July 26, up 0.79% compared to the previous year.
Net profit after tax fell to NZ$27.6 million from NZ$29.3 million recorded in the corresponding period last year.
"Delivering record first-half sales, alongside a third consecutive quarter of sales growth, is particularly encouraging given the continued caution in household discretionary spending," said Briscoe Group Group Managing Director Rod Duke.
Sporting goods sales grew by NZ$3.6 million to NZ$145.1 million, while homewares revenue fell by NZ$0.7 million to NZ$229.1 million.
Following the announcement the Briscoe Group share price was unchanged at $3.69.
The group expanded its digital operations during the half-year as online sales increased 2.07% to reach NZ$73.4 million, representing 19.60% of total group sales.
Briscoe Group completed several major capital initiatives during the half, including opening a new North Island distribution centre and launching its updated Club Rebel rewards programme.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
