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Briscoe Group full-year sales up slightly


Briscoe Group has reported an increase in sales compared to last year, but its fourth quarter result was only a slight improvement.

Niko Kloeten
Thu, 03 Feb 2011

Briscoe Group has announced unaudited sales for the full year (52 weeks) to January 30 of $419.3 million, 0.63% above the $416.7 million reported for the full year 53-week period last year.

The anomaly is due to the group operating on a weekly trading and reporting cycle, resulting in 52 weeks for most years and a 53-week year once every 6 years.

On a same store same day basis, the group’s sales for the year were 2.40% ahead of the same period last year.

On a same store basis (and adjusted for the extra week last year) homeware sales increased 1.98% compared with last year, while sporting goods sales increased by 3.31%.

Group sales for the three months (13 weeks) ended 30 January 2011 were $139.4 million, 5.24% lower than the $147.1 million reported for the 14-week fourth quarter of last year.

On a same store same days basis, the group’s sales for the quarter were 0.03% ahead of the same period last year, with homeware sales up 0.36% while sporting goods sales decreased by 0.74%.

Managing director Rod Duke said, “During the year the Group booked a one-off deferred-tax liability of $2.6 million as a result of the recent changes to building depreciation.

“Now that the relevant legislation has been finalised, this is expected to adjust back to around $2.4 million and will be booked against the Group’s tax expense for the year.

“Excluding this one-off tax adjustment we expect that we would have been able to report a full year tax paid Group profit in excess of $23 million, representing an increase over last year of around 10%.” 

Niko Kloeten
Thu, 03 Feb 2011
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Briscoe Group full-year sales up slightly
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