Briscoe climbs 5% as annual profit beats forecast

Ella Somers
Fri, 04 Feb 2022

Trainee reporter
funded through
Ella Somers
Fri, 04 Feb 2022
Briscoe Group's shares rose 5% after the homeware and sporting goods retailer said annual profit beat its November forecast.The shares rose 29 cents to $6.08 in early trading on the NZX – going against a wider selloff on the market – after Briscoe said annual net profit was about $87 million in the 52 weeks ended Jan 30, having forecast a bottom line of up to $85m. That’s up from a record $73.2m in the January 2021 financial year, which was a week longer due to Briscoe’s weekly reporting cycle.The retailer will...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation
Court keeps prominent family's commercial dispute under wraps
Victoria Young | Wed, 10 Aug 2022

The proceeding alleges breaches of the Companies Act and breach of contract.

Markets
Analysts watch for faltering economy in August earnings
Dan Brunskill | Wed, 10 Aug 2022

Reporting seasons begins in earnest next Monday when Contact Energy reports its full-year results.

Law & Regulation
Commerce Commission will use beefed-up fines to chase non-notified mergers
Greg Hurrell | Wed, 10 Aug 2022

The Commerce Commission says it will not let bygones be bygones when it comes to issuing fines and even winding back uncompetitive company mergers it wasn't told about.

Sponsored
A clearer path to the cloud

Step-by-step cloud transition can bring benefits, experts say.

Sponsored
Energy of the future: Why we need innovation

The Tomorrow’s Energy Today conference is looking at ways to develop a clean, affordable and reliable energy future, says Brendan Winitana, chair of the Sustainable Energy Association New Zealand (SEANZ).