BOTTOM LINE STRONG FOR BRISCOE GROUP IN SPITE OF SOFT Q4

By February 02, 2017 Industry news

Briscoe Group expects a 25% increase in its NPAT for the full year, despite disappointing Christmas trading.

Briscoe Group's unaudited full year figures (1 February 2016 - 29 January 2017) announced this morning reveal a strong overall bottom line gain.

Group sales for the year were $582.8 million, +5.4% on the previous period, annual homeware sales were $372.5 million (+4.1%), while sporting goods sales were +7.85% ($210.3 million).

On a same store basis (adjusted against last year’s 53-week period), full year group sales were +4.9%, homeware sales +3.79% and sporting goods sales +7.0%.

Drilling down into Q4 (Nov-Jan), sales were down across the board: group sales were -2.15% ($188.9 million); as were homeware sales (-2.16% to $123.2 million); and sporting goods sales (-2.12% to $65.7 million).

Q4 same store sales were more positive with group sales +1.78%, homeware sales +1.52% and sporting goods sales +2.27%.

Expecting to report a record full year Net Profit After Tax (NPAT) of around $59 million (+25% on last year), Managing Director Rod Duke was pleased with the overall final quarter performance, even though sales "eased a little" thanks to one less week in this quarter compared to last year, a slow start to Christmas trading and the "late and inconsistent weather".

The final audited full year result is expected on 14 March 2017

UPDATE: See the final audited year end results (with only minor changes from what we reported in this article) here.

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