Briscoe fends off margin squeeze as sales growth underpins 3.2% FY profit gain

Sun, 11 Mar 2018

By Paul McBeth March 12 (BusinessDesk) - Briscoe Group coped with a margin squeeze in the latest financial year to deliver a new record profit as sales growth continued to underpin earnings. Net profit rose to $61.3 million, or 27.3 cents per share, in the 52 weeks ended Jan. 28, from $59.4 million, or 26.5 cents, a year earlier, the Auckland-based company said in a statement. Sales rose 3.5 percent to $603.1 million, offsetting a contraction in gross margin to 40.49 percent from 41.07 percent a year earlier. The company's profit "wa...

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