Gross profit margin shrank 150 basis points to 34.7%.
Briscoe's strategy is to get suppliers like Breville to do the picking, packing and dispatching of products, while clipping the ticket.
The gross profit margin rose two percentage points to a record 45.76% of sales, despite the fact that the previous year's 43.76% margin was itself a record.
Small-scale electricity retailer Electric Kiwi reckons the wholesale electricity market is screwing the scrum for big players and costing consumers far more than the supermarket duopoly.