Record annual profit for Briscoes

Rod Duke

Homeware retailer Briscoes Group says its full-year net profit of $27.5 million is an earnings record.

The 27% or $5.92 million rise in net profit, for the year to January 29, was achieved as sales rose 4.5% to $458.04 million.

However, gross profit margin fell slightly from 39.7% to 39.5%, reflecting the impact of the significantly late start to summer and the flat retail market in general.

Shares in Briscoes rose 3 cents to $1.50 after the result was released in this morning, having fetched between $1.53 and $1.30 this year.

Group managing director Rod Duke says the record result is pleasing amidst ongoing economic uncertainty here and overseas.

 

The Rugby World Cup helped its 32 Rebel Sports stores  perform “exceedingly well” in the third quarter on sales of All Blacks and other licensed merchandise, Mr Duke says.

Sales at the group’s Briscoes homeware stores rose 2.7%to $294.4 million, despite closure of one Briscoes store and six Living Giving stores.

The retail environment was forecast to be difficult in the year ahead, but Mr Duke said the retailer was leased with the start it had made to the financial year.

A fully tax-paid dividend of 6.5 cents will be paid on March 29 – up from 6 cents a year earlier.

Briscoe 12-month chart. Source: CapitalIQ. Click to enlarge.


1 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

1 Comment & Question

Commenter icon key: Subscriber Verified

Not before time,Briscoes are sitting on a heap of shareholders cash,I hope they will return some one day!!!

Reply
Share
  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7212 0.0021 0.29%
AUD 0.9383 0.0006 0.06%
EUR 0.6800 -0.0013 -0.19%
GBP 0.5798 -0.0001 -0.02%
HKD 5.5966 0.0157 0.28%
JPY 80.8580 0.2210 0.27%

Commods

Commodity Price Change Time
Gold Index 1258.3 7.630 2017-02-24T00:
Oil Brent 56.3 -0.650 2017-02-24T00:
Oil Nymex 54.0 -0.500 2017-02-24T00:
Silver Index 18.3 0.220 2017-02-24T00:

Indices

Symbol Open High Last %
NZX 50 7065.6 7091.2 7058.6 0.29%
NASDAQ 5835.0 5850.0 5845.3 0.02%
DAX 11858.1 11860.8 11804.0 0.16%
DJI 20808.7 20841.8 20821.8 -0.00%
FTSE 7243.7 7285.2 7243.7 0.13%
HKSE 23941.8 24067.7 23965.7 -0.17%
NI225 19130.5 19179.0 19283.5 -0.91%
ASX 5739.0 5743.5 5739.0 -0.26%