'Standout result': Briscoe posts sales record but profits slip

Rod Duke started managing Briscoe Group in 1988. (Image: NZME)

Thu, 01 Aug 2024

Briscoe Group anticipates half-year profits to fall despite the company posting a fourth successive sales record in what managing director Rod Duke called a “standout result”. In an interim trading update posted on the New Zealand Exchange (NZX) on Thursday, the retailer said underlying net profit after tax (npat) is expected to be around 94% of last year’s $42.75 million for the 26 weeks to July 28. Duke said the number will likely exceed $40m. The underlying figure is equal to npat, excluding the impact of a o...

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