Strong sales for Briscoes

Rod Duke
Rod Duke
Briscoe Group continued its positive start to the year with strong sales in the second quarter, managing director Rod Duke said yesterday.

The group, which includes Briscoe Homewares and Rebel Sport, forecast its reported profit for the six months ended July would be about $13 million, a 26% increase over the previous corresponding period (pcp).

Unaudited sales for the half year to July 29 of $204.7 million were up 5.5% on the $194.1 million reported for the pcp.

The group's homeware segment increased sales by 5.49% during the period and the sporting goods segment increased by 5.46%.

On a same-store basis, the group's sales for the half year were 6.77% ahead of the pcp.

For the second quarter, group sales were $102.2 million, 4.5% ahead of the $97.8 million in the pcp.

"A strong sales and margin performance has enabled group profit to track ahead of last year which is very important in relation to our full-year profit given the very strong third quarter result achieved last year on the back of the Rugby World Cup," Mr Duke said.

Notwithstanding the continued tough operating conditions, and a significant commitment of resources and expenses to generate new streams of online business from the group's websites, group earnings before interest and tax had tracked above last year in the first half.

Mr Duke expected that increase to be reflected in the results for the half year. Sales and gross profit would be up on last year and costs had been well managed during the first six months of this year, he said.

Group results are expected on September 7.

 

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