5 Feb 2010

Briscoes forecasts $20m annual profit

1:45 pm on 5 February 2010

Briscoes Group says its annual profit is set to double after a bumper Christmas trading season.

The listed homeware retailer, which also owns Rebel Sport and Living and Giving chains, says its sales in the three months to the end of January rose more than 14% to $147 million.

This boosted the retailer's sales for the whole financial year to $417 million, more than 7% higher than the previous year.

The company now expects to report a post-tax profit of more than $20 million.