1 May 2009

Briscoe expects increased half-year profit

9:36 pm on 1 May 2009

Listed retailer Briscoe Group says its profit in the first half of this year is likely to top what it made in the same period last year.

Consumer spending remains subdued despite tax cuts and falls in interest rates and the cost of fuel.

Sales across Briscoe group, which includes Briscoes, Rebel Sport, Living and Giving and Urban Loft chains, were almost flat in the first quarter, slipping just 0.1% to $90.2 million.

Sales at Rebel Sport were the standout, rising 6.6%.

Briscoe Group managing director Rod Duke says lower costs and better margins will bolster the half-year result rather than sales, which are flat.