Briscoe Group Limited has reported a net profit after tax (NPAT) of $42.75 million for the half-year ended July 30, 2023, compared to $45.62 million for the same period last year.
The company's total revenue increased by 0.35% to $369.24 million.
The directors have declared an interim dividend of 12.50 cents per share, and the company's dividend policy is to pay out at least 60% of NPAT on a full-year basis.
The gross margin percentage declined from 45.64% to 43.73%.
The company's online business represented 18.33% of group sales.
Inventory levels increased due to supply chain cost increases.
The company's balance sheet remains strong with cash balances of $126.90 million.
The company opened a new Rebel Sport store and completed three store refurbishments during the period.
The company remains cautious about the retail environment due to economic conditions, cost pressures, and political uncertainty.
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