7 Sep 2012

Briscoe Group expects to outperform competitors

7:34 am on 7 September 2012

Sporting goods and homeware retailer Briscoe Group is expecting trading to remain tough for the year but still anticipates outperforming its competitors and taking market share.

The company made a $13.2 million profit for the six months to July, a 28.6% increase on last year while sales rose 5.5% to $204.7 million.

The results are in line with the firm's forecast of last month.

Briscoe Group managing director Rod Duke says the company had a strong performance with its continued successful marketing strategies.

He expects subdued customer confidence to remain through but given the almost 30% rise in profit, he remains confident.

Mr Duke thinks it's unlikely the group's competitors will report profits of the same magnitude, and believes Briscoes is taking market share.

He says the company has chosen quality brands at good prices to suit conservative spending.

The company operates the Rebel Sport, Briscoes and Living and Giving chains. It will pay an interim dividend of 4 cents per share.