Briscoe Group posts increased half-year profit

Briscoe Group posts increased half-year profit

The directors of Briscoe Group Limited (NZX/ASX code: BGP) announce a net profit after tax (NPAT) of $28.58 million for the half-year ended 30 July 2017. This compares to last year’s $27.26 million half year result.

Rod Duke, Group Managing Director, said: “Despite the ongoing competitiveness of the retail environment and the impact on winter-dependent categories with the late start to the colder months, overall we are satisfied with the positive sales and profit growth achieved for this first six months.

Highlights for the 26 week period ended 30 July 2017:

• Total sales $280.26 million, +4.44%

• Same store sales growth, +4.43%

• Gross profit $114.99 million, +2.30%

• Gross profit margin 41.03% vs 41.89% last year

• EBIT $39.13 million, +3.26%

• NPAT $28.58 million, +4.84%

• Interim Dividend 7.50 cps increase from 7.00 cps last year, +7.14%

BGP_Announcement_to_NZX_HY17.pdf

ENDS

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