Brief: Briscoe Group Posts HY Unaudited Sales Of NZ$369.2 Million

Briscoe

08/08/2023 22:21

Aug 9 (Reuters) - Briscoe Group Ltd  BGP.NZ :
    * HY UNAUDITED SALES OF NZ$369.2 MILLION, AN INCREASE OF
0.35%
    * EXPECT NEW ZEALAND RETAIL TO REMAIN HIGHLY SENSITIVE TO
ONGOING
UNCERTAINTY IN RELATION TO ECONOMIC CONDITIONS, AMONG OTHERS
    * EXPECT TO BE DIFFICULT FOR GROUP TO REPLICATE LAST YEAR'S
FULL-YEAR RECORD NET PROFIT AFTER TAX  RESULT OF NZ$88.4 MILLION
    * CONTINUE TO SEE GROSS MARGIN PRESSURE FOR GROUP
    * CONFIDENT OF PRODUCING A HY NET PROFIT AFTER TAX IN EXCESS
OF
NZ$42 MILLION
    * WE EXPECT GROSS PROFIT MARGIN PERCENTAGE FOR FIRST HALF TO
BE
AROUND 200 BASIS POINTS BELOW LAST YEAR
    * FOR HALF-YEAR ENDED 30 JULY CONFIDENT OF PRODUCING A
HALF-YEAR
NET PROFIT AFTER TAX IN EXCESS OF NZ$42 MILLION
    * SIGNIFICANTLY INCREASED OUR CAPITAL INVESTMENT IN SECURITY
INITIATIVES
    * "WIDELY REPORTED EXPLOSION IN RETAIL CRIME CONTINUES TO
HAVE A
SIGNIFICANT OPERATIONAL AS WELL AS ECONOMIC IMPACT"
    * NOT EXPECT SAME AMOUNT OF DECLINE FOR SECOND HALF FOR
GROSS
PROFIT MARGIN PERCENTAGE

Further company coverage:  BGP.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))