Thursday, 16 August 2018

Announcement

MKTUPDTE: BGP: 4th Quarter Sales to 28 January 2018

02 Feb 2018 11:04NZX
Record full year sales

Briscoe Group Limited (NZX/ASX code: BGP)

Highlights:

o Briscoe Group passes $600 million in annual sales for the first time,
(+3.5%)
o FY NPAT expected to be around $61 million - a new high, (+7.6%
normalised per below)
o Black Friday and Boxing Day - biggest sales days ever for Homeware
segment
o Boxing Day - biggest sales day ever for the Group
o Online sales up more than 30% on previous year

Commentary:

Managing Director Rod Duke said: "We are very pleased with the Group''s
overall performance for the final quarter of the year, which has driven
annual sales through the $600 million mark for the first time.
"We operate in highly competitive markets, and it is a credit to the whole
team that we have once more delivered a record performance.
"Our traditional store format and promotional campaigns continue to resonate
with our customers. This was particularly evident during Black Friday and
Boxing Day - both were record days for us.
"Our online business continues to produce excellent sales growth, finishing
the year more than 30% up on the previous year. We will continue to focus on
our online offering while maintaining our proven strategy of adding stores to
our network as and when we identify opportunities.
"Inventory is in good shape and we have lifted stock-turn.
"Gross profit dollars will finish comfortably ahead of last year although
gross profit percentage will be a little lower than last year as a result of
the intensely competitive and ever-changing retailing environment; however,
it remains a focus for the Group as we strive to build sales volumes without
compromising profitability.
"We expect to report a record full year Net Profit After Tax (NPAT) of around
$61 million. We note that last year''s reported NPAT of $59.4 million included
several one-off benefits totaling $2.7 million in relation to the sale of
Group property in Hastings. Adjusting for these one-off items the expected
NPAT of around $61 million would represent an increase over last year of
7.6%."
The directors expect to report the final full year audited result on 12 March
2018.

Full year: 30 January 2017 - 28 January 2018:

The directors of Briscoe Group announce unaudited sales for the 52 weeks
ended 28 January 2018 of $603.1 million, being 3.47% above the $582.8 million
reported for the 52 weeks ended 29 January 2017.
For the 52 week period from 30 January 2017 to 28 January 2018, homeware
sales increased by 3.03% to $383.8 million while sporting goods sales
increased sales by 4.26% to $219.3 million.
On a same-store basis Group sales for the year ended 28 January 2018 were
3.11% ahead of the previous year.
On the same-store basis, homeware sales increased by 2.74%, while sporting
goods sales increased by 3.77%.

Fourth Quarter: 30 October 2017 - 28 January 2018:

Total sales for the Group for the 13-week quarter ended 28 January 2018 were
$193.8 million, an increase of 2.61% on the same quarter for the previous
year. Homeware sales increased by 1.27% to $124.8 million, while sporting
goods sales were $69.1 million, an increase of 5.12% on the fourth quarter
last year.
On a same-store basis the Group''s sales for the fourth quarter ended 28
January 2018 were 1.50% ahead of the fourth quarter for last year.
On the same-store basis, homeware sales decreased slightly by 0.29% and
sporting goods sales increased by 4.91% for the same quarter.

Friday 2 February 2018

Contact for enquiries:
Rod Duke
Group Managing Director
Tel: +64 9 815 3737
End CA:00313702 For:BGP    Type:MKTUPDTE   Time:2018-02-02 11:04:38
Views: 218
Briscoe Group Limited
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