9 Sep 2011

Briscoe Group boosts profit in difficult times

9:12 pm on 9 September 2011

Briscoe Group has boosted its half year profit, but says the retail environment remains tough.

The listed retailer, which runs the Briscoes, Rebel Sports, and Living and Giving stores, made $10.3 million in the six months to the end of July, compared with $6.6 million in the same period a year earlier, when it was hit by a tax charge.

Revenue rose 2% to $194 million.

Briscoe Group's managing director, Rod Duke, says he is pleased with the growth, and cautiously optimistic about the company's performance in the second half of the year.

He says although Rebel Sport is doing well, probably as a spin-off from the Rugby World Cup, the retail environment in general is still very difficult.