Briscoe Group reports $84.2m profit, 5% decrease from last year

Briscoe Group has reported a net profit after tax of $84.2 million for the year ending Jan 28 2024.

This represents a 5% decrease from the record $88.4m reported in the previous year.

The homeware and sporting goods retailer also announced a final dividend of 16.5 cents per share, bringing the total dividend for the year to 29c per share, a 3.57% increase from the prior year.

Briscoe Group achieved total sales of $792m, with both the homeware and sporting goods segments experiencing positive growth.

The company's gross profit margin of 42.4% helped protect 47% of the gross profit margin points gained in the two years affected by Covid.

Online sales accounted for 18.72% of the group's total sales.