Briscoe posts record annual profit after lifting sales, widening margins

Wed, 06 Mar 2013

March 7 (BusinessDesk) – Briscoe Group, the homeware and sports goods retailer controlled by managing director Rod Duke, said annual profit rose 11 percent to a record as sales gained more than costs, allowing the company to lift its dividend. Profit rose to $30.5 million in the 12 months ended Jan. 27, from $27.5 million a year earlier, the Auckland-based company said in a statement. Sales rose 3.3 percent to $472.7 million. Briscoe’s gross margin widened to 40.01 percent from 39.52 percent, which the company attributed to its focus on inve...

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