Briscoe Group sales up 5%
Rebel Sport sales rise ahead of Rugby World Cup.
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Briscoe Group (NZX:BGR) has reported unaudited sales of $97.8 million for the quarter to July 31, up 4.83% on the $93.3 million reported for the second quarter of last year.
Sales in its homeware segment increased sales by 4.17% during this period and the sporting goods segment (Rebel Sport) increased by 6.34%.
On a same store basis sales were 8.07% above the second quarter for last year, with homeware sales increasing by 8.87% for the quarter while sporting goods sales were 6.34% ahead of last year.
Unaudited sales for the half year were $194.1 million, up 2.09% on the first six months of last year, with homeware sales up 1.46% and sporting goods up by 3.40%.
On a same store basis Briscoe Group’s sales for the half year were 4.42% ahead of the same period last year, with homeware sales up 4.35%, while sporting goods sales increased by 4.56% over the first half of last year.
Managing director Rod Duke said, “Pressure on gross profit margin has remained strong during this second quarter reflecting competitive market pressures and tight inventory control to ensure optimal stock levels are met.
“Despite the late start to winter and the subsequent impact on heating and apparel sales, we are very pleased with the overall sales performance delivered on the back of a very strong promotional programme.”
He said the group’s net profit after tax for the half year is anticipated to be at least $10.2 million.
This would be a 10% increase over last year’s adjusted $9.3 million half-year result or a 57% increase over last year’s actual reported $6.6 million result, which reflected the tax adjustment the group was required to book in that period, Mr Duke said.
The group expects to announce its first half results on September 9.
Niko Kloeten
Fri, 05 Aug 2011
Fri, 05 Aug 2011
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Briscoe Group sales up 5%
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