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

 

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Science Media Centre: Viral Science And Another 'Big Dry'?

"Potentially, if there is no significant rainfall for the next month or so, we could be heading into one of the worst nation-wide droughts we’ve seen for some time," warns NIWA principal climate scientist Dr Andrew Tait. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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