4 Sep 2014

Briscoes lifts first-half profit

4:37 pm on 4 September 2014

Briscoe Group easily exceeded its own guidance reporting a near 24 percent lift in first-half net profit reflecting rising sales and higher profit margins.

The net profit for the year ended late July of $18.5 million compares with the company's expectation the result would exceed $18 million.

The result was boosted by an insurance payout of just over $1 million - excluding that payout, net profit rose more than 17 percent.

He said it was a time of growth and improvement for the company.

"I don't see that particular growth slowing down any time soon, we are in fact improving the number and the look of all the stores, we are improving the merchandise."

He said customers "were thrilled to bits" with the products they are buying and the outlets.

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