Briscoe beats own forecast with $73.2m annual net profit

Staff reporters
Tue, 16 Mar 2021

Staff reporters
Tue, 16 Mar 2021
Briscoe Group continued its track record of under-promising and over-delivering by posting a $73.2 million annual net profit.Last month, the company said the result would be at least $70m.The company also fattened its gross profit margin to a record 43.76% of sales from 39.43% the previous year.The result for the 53 weeks ended Jan 31 was 17% higher than the $62.6m the retailer reported for the previous year, although the latest year includes an extra week – the company operates on a weekly reporting cycle and so needs to add a week once...

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