Negative headwinds knock Briscoe’s half-year net profit

Managing director Rod Duke said there were “significant” supply chain cost increases. (Image: NZME)

Wed, 13 Sep 2023

Briscoe Group’s half-year unaudited net profit fell 6.29% to $42.75 million as negative headwinds continued to blow against the retail giant’s efforts to escape the current negative economic environment, putting pressure on its gross margin.Even though the $42.75m net profit after tax (NPAT) for the half-year was down from the $45.62m the retailer saw in the last corresponding period, managing director Rod Duke said producing a net profit in the current economic environment was “very pleasing”. Chair...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

What Willis was told ahead of Orr’s shock resignation

Documents released under the OIA shed some light on what happened.

Staff reporters 3:20pm

Infrastructure

KiwiRail reveals $8m cost of McKinsey contract

Rail Minister Winston Peters calls it an unacceptable payment.

Oliver Lewis 2:40pm

KiwiRail reveals $8m cost of McKinsey contract

Economy

Westpac Bank’s Eckhold says April cut likely wrong move

Economists are widely expecting a 25 bps rate cut next week.

Rebecca Howard 2:00pm

Westpac Bank’s Eckhold says April cut likely wrong move

Sponsored

New life in property market

Tax rule changes are bringing back mum-and-dad investors.

Fletcher Living

Sponsored

Commercial property trends: AI, sustainability and growing confidence

Falling rates and green tech shape property investment’s future.

PMG

More Retail

Retail

Trump-era FX 'compounding' margin losses, analysts say

"Liberation day" could make matters worse, says Kiwibank’s Kerr.

Gregor Thompson 5:00am

Finance

Credit card issuers fear ComCom proposals

The proposed regulations will stifle banking competition, says Mastercard.

Pattrick Smellie 5:00am

Retail Analysis

Are all Willis’ duopoly-breaking options really on the table?

A survey of her external adviser's views suggests not.

Gregor Thompson 01 Apr 2025

Retail

My Food Bag CEO signals 'return to growth'

My Food Bag's chief executive, Mark Winter, says the company has "returned to growth" after strengthening its sales performance in the second half of the financial year.On Tuesday, the meal-kit delivery firm told the NZX that it expects to deliver full-year earnings in line w...

Gregor Thompson 01 Apr 2025

Negative headwinds knock Briscoe’s half-year net profit

More Retail

Your company has a subscription

Team