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Briscoe Group Ltd - 4th Quarter / Full Year Sales

4th Quarter / Full Year Sales

The directors of Briscoe Group Limited announce that unaudited sales for the three months ended 31 January 2005 were $107.9 million, being 1.61% higher than the $106.2 million reported for the fourth quarter of last year.

Briscoes Homeware sales decreased 0.55% to $74.1 million and Rebel Sport sales rose 6.70% to $33.8 million.

On a same store basis, the group’s sales for the quarter were 6.23% behind those for the fourth quarter of last year.

The group added two new stores during the quarter with the opening of a Briscoes Homeware and a Rebel Sport in Riccarton, Christchurch. Briscoes Homeware stores now number 33 with total store area of 68,693 sqm. Rebel Sport store numbers increased to 20 with total store area now at 40,985 sqm.

The January 2005 quarter sales figure takes unaudited group sales for the year ended 31 January 2005 to $318.3 million, a rise of 0.92% over the $315.4 million reported for last year. Briscoes Homeware sales decreased 1.35% during this period, while Rebel Sport sales increased 6.06%.

On a same store basis the group’s sales for the twelve months ended 31 January 2005 were 6.62% behind the same period last year.

Briscoes Homeware same store sales decreased 4.84% compared with the twelve months of last year, while Rebel Sport sales decreased by 10.60%.

Managing Director, Rod Duke said, “After a slow start to December Briscoes Homeware and Rebel Sport both achieved better than expected sales levels and gross profit margins over the Christmas period. Margins have continued to be strong through January and the directors now expect the Group tax paid profit for the full year to 31 January 2005 to be in excess of the estimated $17.5 million provided to the market on 17 December 2004.”

The directors expect to report the final full year audited result on 18 March 2005.

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