Briscoe Group reports positive half-year result despite profit drop

(Image: NZME)

Wed, 11 Sep 2024

Briscoe Group has reported a positive half-year result, but its performance is down compared to the same time last year.The group reported a net profit after tax of $33.21 million to July 28, down from $42.75m for 1H2023.The group did face a one-off tax adjustment due to changes in depreciation rates to commercial buildings, which, if removed, meant its net profit increased to $40.58m for 1H2024, down 5% compared to 1H2023.Total revenue for the group had a slight increase of 0.77% year-on-year, up from $369.2m in 1H2023 to $372m in 1H...

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