Forsyth Barr lifts Briscoe annual profit forecast by 23%

Tue, 10 Aug 2021

In the wake of Briscoe announcing a 22.6% jump in first-half sales and saying its gross margins continue to be very strong, broking firm Forsyth Barr has lifted its forecast for annual net profit by a smidgeon more than that.The broker's analysts Guy Hooper and Scott Anderson now expect a $96.6 million annual net profit, up from their previous forecast of $78.6m. They have also raised their forecast for the following year to $84.6m from $76.2m, but that evidently would be quite a fall from current levels of profitability."Whilst a...

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