Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Briscoe boosts annual profit by at least 9% on strong Xmas

Briscoe boosts annual profit by at least 9 percent on strong Xmas

Feb. 1 (BusinessDesk) - Briscoe Group, which operates the Rebel Sport, Briscoe and Living & Giving retail chains, says annual profit climbed by at least 9 percent after boosting sales in the fourth quarter, encompassing the Christmas period.

Group profit will beat $30 million in in the year ended Jan. 27, up from $27.5 million a year ago, managing director Rod Duke said in a statement. The retail chain boosted fourth-quarter sales 3.1 percent to $146 million, with a 3.9 percent gain in its Rebel Sport stores and a 2.7 percent increase in its homeware outlets. Revenue gained 3.4 percent to $452.7 million on an annual basis.

"Trading was particularly strong immediately prior to and post-Christmas, and we were especially pleased with the significant lift in sales achieved by our online stores," Duke said. "We are reasonably pleased with our sales, margins and overall performance for the final quarter of the year."

In November, Duke signalled net profit would trump 2011, though he wasn't more specific citing the importance of the Christmas retail period.

The retailer's shares were unchanged at $2.50 yesterday, and have rallied 14 percent this year.

Briscoe expects to report its final result on March 7.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news