Briscoe ‘very eager’ to make acquisitions, sees year-end cash up to $90M, Duke says

Fri, 02 Aug 2013

Aug 2 (BusinessDesk) – Briscoe Group, whose shares have grown four times faster than the NZX 50 Index in the past five years, is eager to make acquisitions or substantial investments using a cash pile that may have grown to $90 million by January 2014. Managing director Rod Duke, who owns 78 percent of the listed retailer, said by the end the financial year, the company was likely to have built cash reserves to between $80 million and $90 million, from $78 million in the bank at the end of last year. It has no debt. That amount of cash could...

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