6 Aug 2011

Briscoe Group upgrades its profit as sales jump

7:00 am on 6 August 2011

Briscoe Group says second-quarter sales have jumped nearly 5%, prompting a profit upgrade.

The owner of the Briscoes Homeware, Rebel Sports, Living and Giving and Urban Loft chains says sales rose 4.8% to $93.3 million in the three months to the end of July, compared with the same period a year ago.

Sales at stores open at least a year rose 8%, with Briscoe Homeware sales climbing 9% and Rebel's sporting goods up 6%.

Briscoe Group managing director Rod Duke says the improvement will boost its profit to at least $10.2 million for the six months to the end of July - 10% higher than last year's adjusted $9.3 million.