7 Sep 2008

Retailer expects next six months to be better

7:36 am on 7 September 2008

Briscoe Group is optimistic the second half of the year will improve, after reporting a 70% fall in profit to $3 million for the July half year.

Sales dropped on a same stores basis by almost 5% at its homeware stores and by 14% at its Rebel Sports stores.

The fall is attributed to low consumer confidence and followed a recent profit downgrade.

Managing director Rod Duke expects the company's trading result for the next six months to track closer to last year's second half profit of $11.9 million.