Briscoe flags $70m profit on late sales surge

Briscoe flags $70m profit on late sales surge
Staff reporters
Briscoe Group says it will report an annual net profit of at least $70 million – a gain of about 12 percent – after reporting double-digit sales growth in the final quarter of its financial year. Sales rose 18.3 percent to $248.1 million in the 14 weeks ended Jan. 31 from the same period a year earlier. That took annual sales to $701.8 million – a record for the homeware and sporting goods retailer. Annual online sales grew almost 80 percent, representing about 19 percent of total annual sales, or $133.3 million.Managing...